https://www.taxtmi.com/caselaws?id=395429 The appeals challenged penalties imposed under section 271(1)(c) of the Income Tax Act for credit card expenses incurred for another company's business. In both cases, the tribunal found no evidence of concealment or inaccurate particulars by the assesses. The penalties were directed to be deleted, emphasizing the necessity to establish concealment or inaccuracies before levying penalties under the said provision. en-us Fri, 15 May 2020 00:00:00 +0530 Wed, 20 May 2020 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395429 The appeals challenged penalties imposed under section 271(1)(c) of the Income Tax Act for credit card expenses incurred for another company's business. In both cases, the tribunal found no evidence of concealment or inaccurate particulars by the assesses. The penalties were directed to be deleted, emphasizing the necessity to establish concealment or inaccuracies before levying penalties under the said provision. Case-Laws Income Tax Fri, 15 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395429