https://www.taxtmi.com/caselaws?id=64024 The Tribunal ruled in favor of the assessee in a tax penalty case. The disallowed expenditures on plant & machinery, interest on FDRs, provision for gratuity fund, share issue expenses, and survey expenses were found to be bona fide claims with all material particulars disclosed. The Tribunal deemed the penalty under section 271(1)(c) as illegal and invalid, allowing the appeal. en-us Thu, 30 Sep 1993 00:00:00 +0530 Thu, 03 Feb 2011 12:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64024 The Tribunal ruled in favor of the assessee in a tax penalty case. The disallowed expenditures on plant & machinery, interest on FDRs, provision for gratuity fund, share issue expenses, and survey expenses were found to be bona fide claims with all material particulars disclosed. The Tribunal deemed the penalty under section 271(1)(c) as illegal and invalid, allowing the appeal. Case-Laws Income Tax Thu, 30 Sep 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64024