https://www.taxtmi.com/caselaws?id=413733 The Tribunal dismissed the Revenue's appeal, upholding the decision of the Ld. CIT(A) to delete the penalty under section 271(1)(c). The Tribunal concluded that since the assessee declared the undisclosed income before the due date of filing the return and the assessing officer accepted the declared income without further additions, there was no concealment or furnishing of inaccurate particulars. The Tribunal emphasized strict interpretation of penalty provisions and found no fault with the decisions of the lower authorities. en-us Thu, 30 Sep 2021 00:00:00 +0530 Tue, 19 Oct 2021 08:23:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413733 The Tribunal dismissed the Revenue's appeal, upholding the decision of the Ld. CIT(A) to delete the penalty under section 271(1)(c). The Tribunal concluded that since the assessee declared the undisclosed income before the due date of filing the return and the assessing officer accepted the declared income without further additions, there was no concealment or furnishing of inaccurate particulars. The Tribunal emphasized strict interpretation of penalty provisions and found no fault with the decisions of the lower authorities. Case-Laws Income Tax Thu, 30 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413733