https://www.taxtmi.com/caselaws?id=411376 The Tribunal ruled that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee's claims were made in good faith and supported by proper documentation. The issues were deemed debatable, and the rejection of the claims did not constitute furnishing inaccurate particulars or concealment of income. Therefore, the Tribunal directed the Assessing Officer to remove the penalty, and the assessee's appeal was successful. en-us Mon, 16 Aug 2021 00:00:00 +0530 Mon, 23 Aug 2021 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411376 The Tribunal ruled that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee's claims were made in good faith and supported by proper documentation. The issues were deemed debatable, and the rejection of the claims did not constitute furnishing inaccurate particulars or concealment of income. Therefore, the Tribunal directed the Assessing Officer to remove the penalty, and the assessee's appeal was successful. Case-Laws Income Tax Mon, 16 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411376