https://www.taxtmi.com/caselaws?id=386296 The SC upheld the HC's decision, affirming the CIT(A)'s deletion of penalty u/s.271(1)(c). The Tribunal ruled that mere disallowance of cash credit claims does not constitute furnishing inaccurate income particulars. Referencing prior SC precedent, the court found insufficient grounds to impose penalty, thereby dismissing the Revenue's appeal against the assessee. en-us Wed, 14 Aug 2019 00:00:00 +0530 Sat, 10 May 2025 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386296 The SC upheld the HC's decision, affirming the CIT(A)'s deletion of penalty u/s.271(1)(c). The Tribunal ruled that mere disallowance of cash credit claims does not constitute furnishing inaccurate income particulars. Referencing prior SC precedent, the court found insufficient grounds to impose penalty, thereby dismissing the Revenue's appeal against the assessee. Case-Laws Income Tax Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386296