https://www.taxtmi.com/caselaws?id=301342 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, finding that the appellant did not furnish inaccurate particulars of income with dishonest intent. The penalty was directed to be deleted as the Tribunal concluded that the appellant's claim for research and development expenses, though disputed in quantum, did not amount to deliberate inaccuracies. The appellant's appeal was allowed, emphasizing the requirement of dishonest intent to establish inaccurate particulars under the Act. en-us Thu, 09 Dec 2021 00:00:00 +0530 Mon, 28 Mar 2022 20:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301342 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, finding that the appellant did not furnish inaccurate particulars of income with dishonest intent. The penalty was directed to be deleted as the Tribunal concluded that the appellant's claim for research and development expenses, though disputed in quantum, did not amount to deliberate inaccuracies. The appellant's appeal was allowed, emphasizing the requirement of dishonest intent to establish inaccurate particulars under the Act. Case-Laws Income Tax Thu, 09 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301342