https://www.taxtmi.com/caselaws?id=429557 The Appellate Tribunal allowed the Assessee's appeal, deleting the penalty imposed under section 271(1)(c) of the Income-tax Act. The Tribunal found that the Assessee had acted in good faith, made adequate disclosures, and did not furnish inaccurate particulars of income. The Tribunal differentiated the case from precedent relied upon by the Ld. Commissioner, concluding that the Assessee was not guilty of any conscious default. Therefore, the penalty was deleted based on the Assessee's genuine conduct and full disclosure of relevant facts. en-us Fri, 28 Oct 2022 00:00:00 +0530 Mon, 31 Oct 2022 08:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429557 The Appellate Tribunal allowed the Assessee's appeal, deleting the penalty imposed under section 271(1)(c) of the Income-tax Act. The Tribunal found that the Assessee had acted in good faith, made adequate disclosures, and did not furnish inaccurate particulars of income. The Tribunal differentiated the case from precedent relied upon by the Ld. Commissioner, concluding that the Assessee was not guilty of any conscious default. Therefore, the penalty was deleted based on the Assessee's genuine conduct and full disclosure of relevant facts. Case-Laws Income Tax Fri, 28 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429557