https://www.taxtmi.com/caselaws?id=762079 ITAT Mumbai held that penalty under section 271(1)(c) cannot be imposed merely for disallowance of factory garden maintenance expenses. The assessee had provided complete details including invoices, ledger entries, and payment records. Since no inaccurate particulars of income were furnished and all information was disclosed, the penalty was not sustainable. Following Supreme Court precedent in Reliance Petro Products case, the tribunal deleted the penalty imposed by AO and upheld by CIT(A), allowing the assessee's appeal. en-us Thu, 21 Nov 2024 00:00:00 +0530 Sat, 23 Nov 2024 08:01:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762079 ITAT Mumbai held that penalty under section 271(1)(c) cannot be imposed merely for disallowance of factory garden maintenance expenses. The assessee had provided complete details including invoices, ledger entries, and payment records. Since no inaccurate particulars of income were furnished and all information was disclosed, the penalty was not sustainable. Following Supreme Court precedent in Reliance Petro Products case, the tribunal deleted the penalty imposed by AO and upheld by CIT(A), allowing the assessee's appeal. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762079