https://www.taxtmi.com/caselaws?id=386132 The Tribunal upheld the deletion of a penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the penalty could only be levied with clear evidence of concealment of income or furnishing inaccurate particulars. The Tribunal agreed that the assessee's voluntary surrender of income to avoid litigation did not warrant the penalty. The Revenue's appeal was dismissed, and the CIT(A)'s decision to delete the penalty was confirmed. en-us Thu, 22 Aug 2019 00:00:00 +0530 Mon, 23 Sep 2019 07:20:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386132 The Tribunal upheld the deletion of a penalty imposed under Section 271(1)(c) of the Income Tax Act, finding that the penalty could only be levied with clear evidence of concealment of income or furnishing inaccurate particulars. The Tribunal agreed that the assessee's voluntary surrender of income to avoid litigation did not warrant the penalty. The Revenue's appeal was dismissed, and the CIT(A)'s decision to delete the penalty was confirmed. Case-Laws Income Tax Thu, 22 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386132