https://www.taxtmi.com/caselaws?id=426895 The tribunal allowed the appeal, set aside the appellate order sustaining the assessment, and canceled the penalty of Rs. 51,993/- imposed under Section 271(1)(c) of the Income Tax Act. The tribunal held that the penalty was not justified as the computational error was due to inadvertent mistake, not an attempt to conceal income. The tribunal emphasized adherence to principles of natural justice and cited a Supreme Court judgment to support its decision. en-us Thu, 25 Aug 2022 00:00:00 +0530 Sat, 27 Aug 2022 08:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426895 The tribunal allowed the appeal, set aside the appellate order sustaining the assessment, and canceled the penalty of Rs. 51,993/- imposed under Section 271(1)(c) of the Income Tax Act. The tribunal held that the penalty was not justified as the computational error was due to inadvertent mistake, not an attempt to conceal income. The tribunal emphasized adherence to principles of natural justice and cited a Supreme Court judgment to support its decision. Case-Laws Income Tax Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426895