https://www.taxtmi.com/caselaws?id=432570 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, and directed the AO to delete the penalty, allowing the appeal of the assessee. The Tribunal emphasized that the mere disagreement on claimed expenditures does not warrant a penalty, and insufficient evidence was presented to establish that the assessee intentionally furnished inaccurate particulars of income. The judgment was pronounced on 04/01/2023 at Ahmedabad. en-us Wed, 04 Jan 2023 00:00:00 +0530 Mon, 09 Jan 2023 08:58:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432570 The Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, and directed the AO to delete the penalty, allowing the appeal of the assessee. The Tribunal emphasized that the mere disagreement on claimed expenditures does not warrant a penalty, and insufficient evidence was presented to establish that the assessee intentionally furnished inaccurate particulars of income. The judgment was pronounced on 04/01/2023 at Ahmedabad. Case-Laws Income Tax Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432570