https://www.taxtmi.com/caselaws?id=389483 The ITAT dismissed the revenue's appeal, affirming the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee had not concealed income or furnished inaccurate particulars, and had a bona fide belief regarding the taxability of underwriting commission and gains on the transfer of debt securities. en-us Thu, 28 Nov 2019 00:00:00 +0530 Mon, 09 Dec 2019 14:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389483 The ITAT dismissed the revenue's appeal, affirming the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee had not concealed income or furnished inaccurate particulars, and had a bona fide belief regarding the taxability of underwriting commission and gains on the transfer of debt securities. Case-Laws Income Tax Thu, 28 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389483