https://www.taxtmi.com/caselaws?id=421609 The Tribunal allowed the appeal of the assessee, directing the deletion of the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that the assessee did not conceal income or furnish inaccurate particulars, as the discrepancies were based on expert advice and valuation differences, not intentional misrepresentation. The penalty was deemed unsustainable, and the judgment was pronounced on 25/04/2022. en-us Mon, 25 Apr 2022 00:00:00 +0530 Thu, 28 Apr 2022 08:13:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421609 The Tribunal allowed the appeal of the assessee, directing the deletion of the penalty levied under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that the assessee did not conceal income or furnish inaccurate particulars, as the discrepancies were based on expert advice and valuation differences, not intentional misrepresentation. The penalty was deemed unsustainable, and the judgment was pronounced on 25/04/2022. Case-Laws Income Tax Mon, 25 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421609