https://www.taxtmi.com/caselaws?id=410395 The Tribunal upheld the deletion of the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, finding that the assessee did not furnish inaccurate particulars of income. The appeal by the Revenue was dismissed, with the Tribunal emphasizing the distinction between capital and revenue nature of expenses incurred on Bus Queue Shelters and citing legal precedents to support its decision. The Tribunal's ruling was based on a detailed analysis of the facts and arguments presented by both parties, ultimately concluding in favor of the assessee. en-us Thu, 29 Jul 2021 00:00:00 +0530 Sat, 31 Jul 2021 09:47:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410395 The Tribunal upheld the deletion of the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, finding that the assessee did not furnish inaccurate particulars of income. The appeal by the Revenue was dismissed, with the Tribunal emphasizing the distinction between capital and revenue nature of expenses incurred on Bus Queue Shelters and citing legal precedents to support its decision. The Tribunal's ruling was based on a detailed analysis of the facts and arguments presented by both parties, ultimately concluding in favor of the assessee. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410395