https://www.taxtmi.com/caselaws?id=296534 The Tribunal dismissed the Revenue's appeals against the penalty deletion for Assessment Years 2007-08 & 2008-09. It was held that the change in treatment of expenditure from revenue to capital did not constitute deliberate concealment or furnishing inaccurate particulars of income. The Tribunal upheld the CIT(A)'s decision, emphasizing the lack of intentional misconduct by the assessee. Therefore, the penalty under section 271(1)(c) was deemed unwarranted, leading to the dismissal of the Revenue's appeals and the affirmation of the penalty deletion for both assessment years. en-us Tue, 14 Jan 2020 00:00:00 +0530 Tue, 27 Jul 2021 08:53:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296534 The Tribunal dismissed the Revenue's appeals against the penalty deletion for Assessment Years 2007-08 & 2008-09. It was held that the change in treatment of expenditure from revenue to capital did not constitute deliberate concealment or furnishing inaccurate particulars of income. The Tribunal upheld the CIT(A)'s decision, emphasizing the lack of intentional misconduct by the assessee. Therefore, the penalty under section 271(1)(c) was deemed unwarranted, leading to the dismissal of the Revenue's appeals and the affirmation of the penalty deletion for both assessment years. Case-Laws Income Tax Tue, 14 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296534