https://www.taxtmi.com/caselaws?id=417921 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) for furnishing inaccurate particulars of income. It was held that the assessee had disclosed all primary facts and that the disallowance under Section 14A was debatable, not warranting penalty provisions. The Tribunal dismissed the Revenue's appeal and the assessee's cross objections, affirming that the penalty was not applicable based on the Supreme Court's ruling in a similar case. en-us Mon, 31 Jan 2022 00:00:00 +0530 Thu, 03 Feb 2022 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417921 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c) for furnishing inaccurate particulars of income. It was held that the assessee had disclosed all primary facts and that the disallowance under Section 14A was debatable, not warranting penalty provisions. The Tribunal dismissed the Revenue's appeal and the assessee's cross objections, affirming that the penalty was not applicable based on the Supreme Court's ruling in a similar case. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417921