https://www.taxtmi.com/caselaws?id=283513 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act, emphasizing that discrepancies in estimated and actual costs were due to changes in accounting methods and not concealment of income. The judgment stressed the significance of accounting practices in tax matters, leading to the dismissal of the tax appeal by the Revenue. en-us Wed, 30 Jan 2019 00:00:00 +0530 Thu, 26 Sep 2019 13:02:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283513 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act, emphasizing that discrepancies in estimated and actual costs were due to changes in accounting methods and not concealment of income. The judgment stressed the significance of accounting practices in tax matters, leading to the dismissal of the tax appeal by the Revenue. Case-Laws Income Tax Wed, 30 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283513