https://www.taxtmi.com/caselaws?id=282357 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. It was held that since the undisclosed income was disclosed in the return and no addition was made during assessment, the penalty was not justified. The Tribunal emphasized that penalty provisions apply based on the return of income and found no concealment or furnishing of inaccurate particulars, leading to the dismissal of the Revenue's appeals in all nine cases. en-us Fri, 25 Jan 2019 00:00:00 +0530 Sun, 04 Aug 2019 16:01:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282357 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. It was held that since the undisclosed income was disclosed in the return and no addition was made during assessment, the penalty was not justified. The Tribunal emphasized that penalty provisions apply based on the return of income and found no concealment or furnishing of inaccurate particulars, leading to the dismissal of the Revenue's appeals in all nine cases. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282357