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2016 (8) TMI 216 - GUJARAT HIGH COURTPenalty imposed u/s. 271(1)(c) - Held that:- As the assessee is not found to be guilty of concealment or misappropriation but was found to be negligent in furnishing the accurate facts. Therefore, the entries which were made by the assessee were not found to be acceptable. The explanation with regard to the same surfaces at Paragraphs 12 and 13 of the findings of the Tribunal which have been reproduced hereinabove. Therefore, we are in complete agreement with the findings of the Tribunal. Consequently, we answer the question raised in this Appeal in favour of the assessee and against the Department
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