1980 (7) TMI 128 - AT - Income Tax

Summary

The Revenue appealed against the cancellation of a penalty of Rs. 3,000 under s. 271(1)(c) of the IT Act, 1961. The AAC cancelled the penalty, stating it could have been an inadvertent mistake. The Revenue argued that the mistake could have been intentional and should not have been cancelled. The tribunal upheld the AAC's decision, stating there was no deliberate attempt to furnish inaccurate particulars of income. The appeal was dismissed.