https://www.taxtmi.com/caselaws?id=386359 The Appellate Tribunal ITAT Pune ruled in favor of the assessee, holding that the penalty imposed under section 271(1)(c) of the Income Tax Act for inaccurate particulars of income was unjustified. The Tribunal found no factual basis to support the penalty, emphasizing that the non-filing of a revised return did not indicate an intention to conceal income. Citing relevant Supreme Court judgments, the Tribunal set aside the penalty imposed by the Assessing Officer and directed its deletion. The decision was rendered on 30th July 2019 by the ITAT Pune bench comprising Shri D. Karunakara Rao, AM, and Shri Partha Sarathi Chaudhury, JM. en-us Tue, 30 Jul 2019 00:00:00 +0530 Fri, 27 Sep 2019 06:40:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386359 The Appellate Tribunal ITAT Pune ruled in favor of the assessee, holding that the penalty imposed under section 271(1)(c) of the Income Tax Act for inaccurate particulars of income was unjustified. The Tribunal found no factual basis to support the penalty, emphasizing that the non-filing of a revised return did not indicate an intention to conceal income. Citing relevant Supreme Court judgments, the Tribunal set aside the penalty imposed by the Assessing Officer and directed its deletion. The decision was rendered on 30th July 2019 by the ITAT Pune bench comprising Shri D. Karunakara Rao, AM, and Shri Partha Sarathi Chaudhury, JM. Case-Laws Income Tax Tue, 30 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386359