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2019 (5) TMI 1005
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....NIOR SC INCOME TAX DEPT ORDER: (Per Hon'ble Sri. Justice V. Ramasubramanian) The Revenue has come up with the above appeal under Section 260A of the Income Tax Act, 1961, challenging an order of the Income Tax Appellate Tribunal dismissing an appeal filed by the Revenue as against penalty. Heard Mr. K. Raji Reddy, learned Senior Standing Counsel for Revenue. As against the levy of p....
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....e assessee had not furnished any material particulars of income which could be said to be inaccurate. It is well settled principle that a mere making of a bonafide claim would not amount to furnishing of inaccurate particulars of income. Therefore, I am of the view that the levy of impugned penalty is not justified. Accordingly the AO is directed to cancel the impugned penalty." As against the ....