https://www.taxtmi.com/caselaws?id=411892 The Tribunal allowed the assessee's appeal, holding that the penalty imposed under Section 271(1)(c) was not sustainable. The invalidity of the penalty notice and the absence of any concealment or furnishing of inaccurate particulars of income were key factors in this decision. The Tribunal emphasized that a mere disallowance of a claim does not justify the imposition of a penalty under Section 271(1)(c). The penalty was quashed, and the appeal was allowed in favor of the assessee. en-us Fri, 03 Sep 2021 00:00:00 +0530 Sat, 04 Sep 2021 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411892 The Tribunal allowed the assessee's appeal, holding that the penalty imposed under Section 271(1)(c) was not sustainable. The invalidity of the penalty notice and the absence of any concealment or furnishing of inaccurate particulars of income were key factors in this decision. The Tribunal emphasized that a mere disallowance of a claim does not justify the imposition of a penalty under Section 271(1)(c). The penalty was quashed, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 03 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411892