https://www.taxtmi.com/caselaws?id=155030 The penalty under section 271(1)(c) of the Income-tax Act for disallowance of expenses claimed out of export sales was deleted as no concealment was found. Similarly, the penalty for an excess deduction claimed under section 80HHC was also deleted as there was no concealment of facts, and the revision was based on known facts and figures. The Tribunal allowed the appeal of the assessee in both instances, ruling that the penalties were wrongly levied. en-us Fri, 14 Oct 2011 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155030 The penalty under section 271(1)(c) of the Income-tax Act for disallowance of expenses claimed out of export sales was deleted as no concealment was found. Similarly, the penalty for an excess deduction claimed under section 80HHC was also deleted as there was no concealment of facts, and the revision was based on known facts and figures. The Tribunal allowed the appeal of the assessee in both instances, ruling that the penalties were wrongly levied. Case-Laws Income Tax Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155030