TMI Blog2005 (10) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... of furnishing inaccurate particulars. Hence penalty cannot be imposed on the assessee as the assessee has no mala fide intention - Tribunal was justified in deleting the penalty levied by the Assessing Officer under section 18(1)(c) of the Wealth-tax Act - - - - - Dated:- 24-10-2005 - Judge(s) : P. D. DINAKARAN., N. KANNADASAN. JUDGMENT The judgment of the court was delivered by P.D. Din ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se to impose penalty and allowed the appeal. It is against the said order the Revenue approached the Income-tax Appellate Tribunal. The Tribunal upheld the order of the Commissioner of Income-tax (Appeals) and dismissed the appeal following its earlier orders. It is against that order the Revenue has preferred the present appeal, raising the following substantial question of law: "Whether on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulars and the said finding had been confirmed by the Tribunal. Therefore, it could not be presumed that the assessee had a mala fide intention to furnish inaccurate particulars. Since the assessee had revealed the correct valuation of the property before the assessment proceedings had been completed, it could not be said that the assessee had furnished inaccurate particulars of the property." In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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