https://www.taxtmi.com/caselaws?id=39395 The Court ruled in favor of the assessee, holding that the firm did not deliberately furnish inaccurate particulars of income under section 271(1)(c). The Court emphasized the distinction between the firm and individual partners for tax purposes, stating that partners' knowledge cannot be attributed to the firm. The Court overturned the Tribunal's decision, concluding that the penalty was not applicable as the firm did not knowingly provide inaccurate information. en-us Thu, 07 Aug 1975 00:00:00 +0530 Fri, 16 Apr 2010 12:12:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39395 The Court ruled in favor of the assessee, holding that the firm did not deliberately furnish inaccurate particulars of income under section 271(1)(c). The Court emphasized the distinction between the firm and individual partners for tax purposes, stating that partners' knowledge cannot be attributed to the firm. The Court overturned the Tribunal's decision, concluding that the penalty was not applicable as the firm did not knowingly provide inaccurate information. Case-Laws Income Tax Thu, 07 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39395