https://www.taxtmi.com/caselaws?id=384613 The tribunal upheld the CIT(A)'s decision to delete the penalty imposed by the AO under section 271(1)(c) for the Assessment Year 2010-11. The penalty, initially initiated for furnishing inaccurate particulars of income but levied for concealment of income, was deemed impermissible. The tribunal emphasized the necessity for clarity in penalty imposition, highlighting the discrepancy between the initiation and levy of the penalty. The tribunal dismissed the revenue's appeal, affirming the deletion of the penalty based on legal grounds presented by the assessee. en-us Fri, 09 Aug 2019 00:00:00 +0530 Sat, 17 Aug 2019 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384613 The tribunal upheld the CIT(A)'s decision to delete the penalty imposed by the AO under section 271(1)(c) for the Assessment Year 2010-11. The penalty, initially initiated for furnishing inaccurate particulars of income but levied for concealment of income, was deemed impermissible. The tribunal emphasized the necessity for clarity in penalty imposition, highlighting the discrepancy between the initiation and levy of the penalty. The tribunal dismissed the revenue's appeal, affirming the deletion of the penalty based on legal grounds presented by the assessee. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384613