https://www.taxtmi.com/caselaws?id=410351 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under section 271(1)(c) of the Income Tax Act for the assessment years 2009-10 and 2011-12. The penalties were deleted as there was no evidence of concealment of income or furnishing inaccurate particulars by the assessee. The Tribunal emphasized that penalties should only be imposed when there is concrete evidence of wrongdoing, not on ad-hoc additions. The appeals by the Revenue were dismissed, affirming that penalties cannot be imposed without substantial proof. en-us Tue, 27 Jul 2021 00:00:00 +0530 Fri, 30 Jul 2021 09:09:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410351 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under section 271(1)(c) of the Income Tax Act for the assessment years 2009-10 and 2011-12. The penalties were deleted as there was no evidence of concealment of income or furnishing inaccurate particulars by the assessee. The Tribunal emphasized that penalties should only be imposed when there is concrete evidence of wrongdoing, not on ad-hoc additions. The appeals by the Revenue were dismissed, affirming that penalties cannot be imposed without substantial proof. Case-Laws Income Tax Tue, 27 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410351