https://www.taxtmi.com/caselaws?id=312959 The Tribunal allowed the Assessee's appeal, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It found no deliberate concealment or furnishing of inaccurate particulars by the Assessee regarding the non-disclosure of technical service fees from M/s. Crisil Ltd. The Tribunal emphasized the Assessee's prompt acceptance of the income addition and the inadvertent nature of the non-disclosure, leading to the cancellation of the penalty. en-us Wed, 08 Mar 2017 00:00:00 +0530 Fri, 15 Mar 2024 20:54:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312959 The Tribunal allowed the Assessee's appeal, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It found no deliberate concealment or furnishing of inaccurate particulars by the Assessee regarding the non-disclosure of technical service fees from M/s. Crisil Ltd. The Tribunal emphasized the Assessee's prompt acceptance of the income addition and the inadvertent nature of the non-disclosure, leading to the cancellation of the penalty. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312959