https://www.taxtmi.com/caselaws?id=416277 The Tribunal allowed the appellant's appeal, ruling in favor of the appellant and ordering the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty for allegedly furnishing inaccurate particulars of income was unwarranted, considering the appellant's bona fide belief in treating rental income as business income and the consistent reporting of income in previous assessments. en-us Wed, 01 Dec 2021 00:00:00 +0530 Fri, 24 Dec 2021 10:35:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416277 The Tribunal allowed the appellant's appeal, ruling in favor of the appellant and ordering the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty for allegedly furnishing inaccurate particulars of income was unwarranted, considering the appellant's bona fide belief in treating rental income as business income and the consistent reporting of income in previous assessments. Case-Laws Income Tax Wed, 01 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416277