https://www.taxtmi.com/caselaws?id=793596 Penalty under section 271(1)(c) was held unsustainable where salary income had been subjected to TDS by the employer, the return was delayed because the employer failed to deposit tax and issue the certificate, and the assessee had pursued the matter with the employer and tax authorities; the absence of deliberate concealment led to deletion of the penalty on that component. On the short disclosure of interest income, the small difference and the assessee's bona fide belief that tax was payable only on yearly interest, not cumulative past interest, negatived concealment and inaccurate particulars, so the penalty was also deleted. The article states that bona fide explanation and surrounding facts can defeat penalty exposure under section 271(1)(c). en-us Wed, 17 Jun 2026 00:00:00 +0530 Fri, 19 Jun 2026 08:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793596 Penalty under section 271(1)(c) was held unsustainable where salary income had been subjected to TDS by the employer, the return was delayed because the employer failed to deposit tax and issue the certificate, and the assessee had pursued the matter with the employer and tax authorities; the absence of deliberate concealment led to deletion of the penalty on that component. On the short disclosure of interest income, the small difference and the assessee's bona fide belief that tax was payable only on yearly interest, not cumulative past interest, negatived concealment and inaccurate particulars, so the penalty was also deleted. The article states that bona fide explanation and surrounding facts can defeat penalty exposure under section 271(1)(c). Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793596