https://www.taxtmi.com/caselaws?id=410383 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Act. The case involved the interpretation of distance criteria for capital gain tax liability, with the Tribunal considering Tehsildar's certificates confirming the distance of the land from municipal limits. Relying on judicial decisions and lack of mala fide intention, the Tribunal dismissed the revenue's appeal, emphasizing that an incorrect claim without proof of mala fide intention does not constitute furnishing inaccurate particulars. en-us Mon, 19 Jul 2021 00:00:00 +0530 Sat, 31 Jul 2021 09:46:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410383 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Act. The case involved the interpretation of distance criteria for capital gain tax liability, with the Tribunal considering Tehsildar's certificates confirming the distance of the land from municipal limits. Relying on judicial decisions and lack of mala fide intention, the Tribunal dismissed the revenue's appeal, emphasizing that an incorrect claim without proof of mala fide intention does not constitute furnishing inaccurate particulars. Case-Laws Income Tax Mon, 19 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410383