https://www.taxtmi.com/caselaws?id=390992 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, ruling in favor of the appellant. The judgment emphasized that the deposits were tuition fees and medical collections exempt under section 11, not anonymous donations, hence no concealment of income. The Tribunal found the inability to provide detailed donor information did not constitute inaccurate reporting. The penalty was deleted, concluding the legal proceedings in Chennai on 2nd January 2020. en-us Thu, 02 Jan 2020 00:00:00 +0530 Wed, 15 Jan 2020 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390992 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, ruling in favor of the appellant. The judgment emphasized that the deposits were tuition fees and medical collections exempt under section 11, not anonymous donations, hence no concealment of income. The Tribunal found the inability to provide detailed donor information did not constitute inaccurate reporting. The penalty was deleted, concluding the legal proceedings in Chennai on 2nd January 2020. Case-Laws Income Tax Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390992