https://www.taxtmi.com/caselaws?id=123018 The High Court set aside the Tribunal's deletion of a penalty under section 271(1)(c) of the Income-tax Act, remanding the matter for reconsideration based on a subsequent Supreme Court judgment. The penalty for specific additions and disallowances was upheld for purchases, loss on sale of shares, earlier year liability, and rent receivable, while penalties for provision for doubtful debts and excess depreciation claimed were rightly deleted. The revenue's appeal was partly allowed, with penalties sustained on certain items and deleted on others. en-us Fri, 23 Jul 2010 00:00:00 +0530 Wed, 12 Jun 2013 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123018 The High Court set aside the Tribunal's deletion of a penalty under section 271(1)(c) of the Income-tax Act, remanding the matter for reconsideration based on a subsequent Supreme Court judgment. The penalty for specific additions and disallowances was upheld for purchases, loss on sale of shares, earlier year liability, and rent receivable, while penalties for provision for doubtful debts and excess depreciation claimed were rightly deleted. The revenue's appeal was partly allowed, with penalties sustained on certain items and deleted on others. Case-Laws Income Tax Fri, 23 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123018