https://www.taxtmi.com/caselaws?id=121502 The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal, confirming the deletion of penalties on several grounds. It upheld the deletion of penalties related to expenses for tax-free dividend income, wrong claims under sections 80HHC and 80-IA, deduction for a motor car not related to R&D, interest accrued but not disclosed, and cessation of liability under section 41(1). The Tribunal also ordered the deletion of the penalty concerning the reduction in deduction under section 80HHC, finding that the CIT(A) had upheld it mechanically without addressing the core issue. en-us Fri, 20 Mar 2009 00:00:00 +0530 Wed, 25 Oct 2023 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121502 The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal, confirming the deletion of penalties on several grounds. It upheld the deletion of penalties related to expenses for tax-free dividend income, wrong claims under sections 80HHC and 80-IA, deduction for a motor car not related to R&D, interest accrued but not disclosed, and cessation of liability under section 41(1). The Tribunal also ordered the deletion of the penalty concerning the reduction in deduction under section 80HHC, finding that the CIT(A) had upheld it mechanically without addressing the core issue. Case-Laws Income Tax Fri, 20 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121502