https://www.taxtmi.com/caselaws?id=432425 The Tribunal ruled in favor of the appellant, holding that the penalty under section 271(1)(c) of the Income Tax Act, 1961, was not justified. The Tribunal found that the appellant rectified the computation error in good faith and without any intention to provide inaccurate particulars of income. Consequently, the appeal was allowed, and the penalty was directed to be deleted as upheld by the Commissioner of Income Tax (Appeals). en-us Tue, 03 Jan 2023 00:00:00 +0530 Thu, 05 Jan 2023 08:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432425 The Tribunal ruled in favor of the appellant, holding that the penalty under section 271(1)(c) of the Income Tax Act, 1961, was not justified. The Tribunal found that the appellant rectified the computation error in good faith and without any intention to provide inaccurate particulars of income. Consequently, the appeal was allowed, and the penalty was directed to be deleted as upheld by the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432425