https://www.taxtmi.com/caselaws?id=443910 The Appellate Tribunal allowed the appeal, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act for furnishing inaccurate particulars of income. The Tribunal found that the claim of deduction on dividend income did not constitute inaccurate particulars and highlighted inconsistencies in the Assessing Officer's actions. Emphasizing the lack of deliberate misrepresentation, the Tribunal relied on legal precedents to support its decision, ultimately ruling in favor of the assessee and deleting the penalty. en-us Wed, 27 Sep 2023 00:00:00 +0530 Wed, 04 Oct 2023 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443910 The Appellate Tribunal allowed the appeal, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act for furnishing inaccurate particulars of income. The Tribunal found that the claim of deduction on dividend income did not constitute inaccurate particulars and highlighted inconsistencies in the Assessing Officer's actions. Emphasizing the lack of deliberate misrepresentation, the Tribunal relied on legal precedents to support its decision, ultimately ruling in favor of the assessee and deleting the penalty. Case-Laws Income Tax Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443910