https://www.taxtmi.com/caselaws?id=400218 The Tribunal upheld the CIT(A)'s decision to delete the penalty of Rs. 1,99,294 imposed under Section 271(1)(c). The Tribunal emphasized that without concrete evidence of concealment or furnishing inaccurate particulars, mere disallowance of purchases does not justify a penalty. The appeal filed by the revenue was dismissed, and the order pronounced on 27.10.2020. en-us Tue, 27 Oct 2020 00:00:00 +0530 Sat, 31 Oct 2020 12:02:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400218 The Tribunal upheld the CIT(A)'s decision to delete the penalty of Rs. 1,99,294 imposed under Section 271(1)(c). The Tribunal emphasized that without concrete evidence of concealment or furnishing inaccurate particulars, mere disallowance of purchases does not justify a penalty. The appeal filed by the revenue was dismissed, and the order pronounced on 27.10.2020. Case-Laws Income Tax Tue, 27 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400218