https://www.taxtmi.com/caselaws?id=750710 The HC dismissed the revenue's appeal, affirming the ITAT's decision to delete the penalty under section 271(1)(c) of the Income Tax Act. The ITAT concluded that the variance in deductions due to changes in business profit did not amount to furnishing inaccurate particulars of income, thus invalidating the penalty. en-us Wed, 13 Mar 2024 00:00:00 +0530 Thu, 28 Mar 2024 08:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750710 The HC dismissed the revenue's appeal, affirming the ITAT's decision to delete the penalty under section 271(1)(c) of the Income Tax Act. The ITAT concluded that the variance in deductions due to changes in business profit did not amount to furnishing inaccurate particulars of income, thus invalidating the penalty. Case-Laws Income Tax Wed, 13 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750710