https://www.taxtmi.com/caselaws?id=445440 The Tribunal allowed the appeal of the assessee, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, by the Assessing Officer. It found no willful concealment of income or furnishing of inaccurate particulars, considering the assessee's lack of awareness about tax obligations. The Tribunal noted the genuine delay in filing the appeal, which was condoned, and relied on the precedent set by the Hon'ble Gujarat HC, concluding that the penalty was unjustifiable. en-us Wed, 11 Oct 2023 00:00:00 +0530 Wed, 08 Nov 2023 09:11:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445440 The Tribunal allowed the appeal of the assessee, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, by the Assessing Officer. It found no willful concealment of income or furnishing of inaccurate particulars, considering the assessee's lack of awareness about tax obligations. The Tribunal noted the genuine delay in filing the appeal, which was condoned, and relied on the precedent set by the Hon'ble Gujarat HC, concluding that the penalty was unjustifiable. Case-Laws Income Tax Wed, 11 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445440