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2015 (7) TMI 940 - AT - Income TaxPenalty u/s 271 - Furnishing of inaccurate particulars of income of assessee - Held that:- CIT(A) has rightly held that the disclosures made by the assessee in this regard were bona fide and were not false or fanciful. We find that Ld. CIT(A) further observed that the assessee did not file inaccurate particulars of income in claiming deduction of the aforesaid amount. Therefore, the penalty levied by the Assessing Officer under section 271(1)(c) of the Act was rightly deleted by the Ld. CIT(A). In view of the above, we are of the view that no interference is called for in the well reasoned order passed by the Ld. CIT(A), hence, we uphold the same. - Decided against Revenue.
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