https://www.taxtmi.com/caselaws?id=63276 The Tribunal allowed the appeals, deleting penalties under Section 271(1)(c) for all three assessment years. The penalties were not justified as the basis for initiation and levy changed, and the assessee's explanations were considered reasonable and plausible. The Tribunal found no deliberate attempt by the assessee to claim higher deductions through foul means, leading to the conclusion that the penalties were unwarranted. en-us Mon, 23 Jun 2003 00:00:00 +0530 Tue, 31 Jul 2012 23:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63276 The Tribunal allowed the appeals, deleting penalties under Section 271(1)(c) for all three assessment years. The penalties were not justified as the basis for initiation and levy changed, and the assessee's explanations were considered reasonable and plausible. The Tribunal found no deliberate attempt by the assessee to claim higher deductions through foul means, leading to the conclusion that the penalties were unwarranted. Case-Laws Income Tax Mon, 23 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63276