https://www.taxtmi.com/caselaws?id=411982 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, finding the disallowance of transport expenses to be adhoc and lacking evidence of concealment of income. The Tribunal emphasized the necessity of establishing a direct link between inaccurate particulars and the penalty. Consequently, the penalty of &8377;5,73,064 was deleted, and the assessee's appeal was allowed. en-us Fri, 19 Feb 2021 00:00:00 +0530 Wed, 08 Sep 2021 08:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411982 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, finding the disallowance of transport expenses to be adhoc and lacking evidence of concealment of income. The Tribunal emphasized the necessity of establishing a direct link between inaccurate particulars and the penalty. Consequently, the penalty of &8377;5,73,064 was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411982