https://www.taxtmi.com/caselaws?id=419174 The Tribunal upheld the decision to delete the penalty imposed under section 271(1)(c), ruling that the disallowance of expenditures and depreciation did not amount to furnishing inaccurate particulars of income. The Tribunal emphasized that the assessee had disclosed all relevant information in good faith, and the disallowance was a matter of interpretation rather than concealment. The Tribunal dismissed the Revenue's appeal, affirming the decision of the Commissioner of Income Tax (Appeals) to delete the penalty. en-us Mon, 21 Feb 2022 00:00:00 +0530 Thu, 03 Mar 2022 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419174 The Tribunal upheld the decision to delete the penalty imposed under section 271(1)(c), ruling that the disallowance of expenditures and depreciation did not amount to furnishing inaccurate particulars of income. The Tribunal emphasized that the assessee had disclosed all relevant information in good faith, and the disallowance was a matter of interpretation rather than concealment. The Tribunal dismissed the Revenue's appeal, affirming the decision of the Commissioner of Income Tax (Appeals) to delete the penalty. Case-Laws Income Tax Mon, 21 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419174