https://www.taxtmi.com/caselaws?id=396507 The Appellate Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 on the assessee for furnishing inaccurate particulars of income. The Tribunal found that the expenses claimed were genuine, and inadvertent errors made by the assessee did not amount to concealment of income. Relying on relevant case law, the Tribunal concluded that there was no justification for the penalty imposition, directing the Assessing Officer to delete the penalty. The appeal of the assessee was allowed, with the order pronounced on July 6th, 2020. en-us Mon, 06 Jul 2020 00:00:00 +0530 Wed, 08 Jul 2020 11:56:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396507 The Appellate Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 on the assessee for furnishing inaccurate particulars of income. The Tribunal found that the expenses claimed were genuine, and inadvertent errors made by the assessee did not amount to concealment of income. Relying on relevant case law, the Tribunal concluded that there was no justification for the penalty imposition, directing the Assessing Officer to delete the penalty. The appeal of the assessee was allowed, with the order pronounced on July 6th, 2020. Case-Laws Income Tax Mon, 06 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396507