https://www.taxtmi.com/caselaws?id=417628 The Tribunal dismissed the Revenue's appeal against the deletion of the penalty of Rs. 59,00,884/- under section 271(1)(c) for the assessment year 2009-10. It held that the disallowance of an excess claim did not constitute furnishing inaccurate particulars of income warranting a penalty. The Tribunal emphasized the requirement for concrete evidence to support penalty imposition and highlighted the necessity of findings by the Assessing Officer. The decision aligned with precedent and upheld the ld. CIT(A)'s decision to delete the penalty. en-us Tue, 18 Jan 2022 00:00:00 +0530 Fri, 28 Jan 2022 09:02:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417628 The Tribunal dismissed the Revenue's appeal against the deletion of the penalty of Rs. 59,00,884/- under section 271(1)(c) for the assessment year 2009-10. It held that the disallowance of an excess claim did not constitute furnishing inaccurate particulars of income warranting a penalty. The Tribunal emphasized the requirement for concrete evidence to support penalty imposition and highlighted the necessity of findings by the Assessing Officer. The decision aligned with precedent and upheld the ld. CIT(A)'s decision to delete the penalty. Case-Laws Income Tax Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417628