https://www.taxtmi.com/caselaws?id=281856 The Appellate Tribunal upheld the Commissioner's decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the claim for interest on loans was inadvertently omitted, and the particulars provided were not inaccurate. The Tribunal dismissed the Revenue's appeal and the assessee's cross objection, affirming the penalty deletion due to the inadvertent nature of the claim and accurate disclosure in the Audit Report and Annual Accounts. en-us Wed, 06 Dec 2017 00:00:00 +0530 Wed, 10 Jul 2019 06:37:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281856 The Appellate Tribunal upheld the Commissioner's decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the claim for interest on loans was inadvertently omitted, and the particulars provided were not inaccurate. The Tribunal dismissed the Revenue's appeal and the assessee's cross objection, affirming the penalty deletion due to the inadvertent nature of the claim and accurate disclosure in the Audit Report and Annual Accounts. Case-Laws Income Tax Wed, 06 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281856