https://www.taxtmi.com/caselaws?id=418138 The Tribunal dismissed the Revenue's appeal, ruling in favor of the assessee. It was established that the assessee did not furnish inaccurate particulars of income, and the penalty under Section 271(1)(c) was not warranted. The Tribunal also emphasized the significance of debatable issues and the impact of substantial questions of law framed by the High Court on penalty proceedings. en-us Mon, 07 Feb 2022 00:00:00 +0530 Wed, 09 Feb 2022 05:44:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418138 The Tribunal dismissed the Revenue's appeal, ruling in favor of the assessee. It was established that the assessee did not furnish inaccurate particulars of income, and the penalty under Section 271(1)(c) was not warranted. The Tribunal also emphasized the significance of debatable issues and the impact of substantial questions of law framed by the High Court on penalty proceedings. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418138