https://www.taxtmi.com/caselaws?id=408909 The Tribunal allowed the appeal, setting aside the penalty imposed by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals). The decision emphasized the inadvertent nature of the error in undisclosed income, which was voluntarily disclosed by the assessee. Additionally, the Tribunal noted technical deficiencies in the penalty notice, highlighting the importance of specific and justified grounds for penalty imposition under section 271(1)(c) of the Income Tax Act. en-us Tue, 18 May 2021 00:00:00 +0530 Thu, 24 Jun 2021 08:26:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408909 The Tribunal allowed the appeal, setting aside the penalty imposed by the Assessing Officer and upheld by the Commissioner of Income Tax (Appeals). The decision emphasized the inadvertent nature of the error in undisclosed income, which was voluntarily disclosed by the assessee. Additionally, the Tribunal noted technical deficiencies in the penalty notice, highlighting the importance of specific and justified grounds for penalty imposition under section 271(1)(c) of the Income Tax Act. Case-Laws Income Tax Tue, 18 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408909