https://www.taxtmi.com/highlights?id=93198 The ITAT upholds the CIT(A)'s deletion of the penalty under section 271(1)(c) imposed on the assessee for alleged furnishing of inaccurate particulars of income. The Tribunal accepts that the assessee, in liquidation, could not file a timely appeal against the assessment order and that the AO's disagreement with the assessee's bad-debt claim and its evidentiary shortcomings did not, per controlling authorities, automatically attract penalty. On that basis the Tribunal affirms that imposition of the penalty was unsustainable and dismisses the revenue's appeal, thereby restoring the CIT(A)'s order deleting the penalty. en-us Thu, 09 Oct 2025 08:54:39 +0530 Thu, 09 Oct 2025 08:54:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93198 The ITAT upholds the CIT(A)'s deletion of the penalty under section 271(1)(c) imposed on the assessee for alleged furnishing of inaccurate particulars of income. The Tribunal accepts that the assessee, in liquidation, could not file a timely appeal against the assessment order and that the AO's disagreement with the assessee's bad-debt claim and its evidentiary shortcomings did not, per controlling authorities, automatically attract penalty. On that basis the Tribunal affirms that imposition of the penalty was unsustainable and dismisses the revenue's appeal, thereby restoring the CIT(A)'s order deleting the penalty. Highlights Income Tax Thu, 09 Oct 2025 08:54:39 +0530 https://www.taxtmi.com/highlights?id=93198