https://www.taxtmi.com/caselaws?id=204416 The Tribunal held that the penalty under Section 271(1)(c) was not justified as the assessee had made a bonafide legal claim, disclosed all relevant facts, and the disagreement was purely on legal interpretation. The Tribunal directed the Assessing Officer to delete the impugned penalties in respect of depreciation on leased assets. The appeals were allowed, and the judgment was pronounced in the open court on 30th September 2010. en-us Thu, 30 Sep 2010 00:00:00 +0530 Wed, 08 Aug 2012 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204416 The Tribunal held that the penalty under Section 271(1)(c) was not justified as the assessee had made a bonafide legal claim, disclosed all relevant facts, and the disagreement was purely on legal interpretation. The Tribunal directed the Assessing Officer to delete the impugned penalties in respect of depreciation on leased assets. The appeals were allowed, and the judgment was pronounced in the open court on 30th September 2010. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204416