https://www.taxtmi.com/caselaws?id=300539 The Tribunal overturned the penalty of Rs. 14,71,190 imposed under section 271(1)(c) of the Income Tax Act for concealment and furnishing inaccurate particulars of income. The decision was based on the assessee's inadvertent errors, considering her circumstances and the nature of the transactions involved, leading to the conclusion that the errors were not deliberate but a result of inadvertence. The Tribunal found the penalty unjustified, highlighting the unintentional nature of the mistakes and allowing the assessee's appeal. en-us Tue, 27 Feb 2018 00:00:00 +0530 Thu, 10 Feb 2022 08:53:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300539 The Tribunal overturned the penalty of Rs. 14,71,190 imposed under section 271(1)(c) of the Income Tax Act for concealment and furnishing inaccurate particulars of income. The decision was based on the assessee's inadvertent errors, considering her circumstances and the nature of the transactions involved, leading to the conclusion that the errors were not deliberate but a result of inadvertence. The Tribunal found the penalty unjustified, highlighting the unintentional nature of the mistakes and allowing the assessee's appeal. Case-Laws Income Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300539