https://www.taxtmi.com/caselaws?id=210356 The Tribunal held that no penalty under section 271(1)(c) should be imposed on the appellant for the disallowance of interest payable claim. The Commissioner of Income-tax (Appeals) had deleted the addition made by the Assessing Officer, emphasizing that the interest amount was a liability based on a court order. However, the Tribunal disagreed with the Commissioner, reinstating the Assessing Officer's addition. The Tribunal found that the appellant's varying positions in different assessment years were justified by external events, indicating no mala fide intent to evade taxes. Consequently, the penalty was canceled, and the appellant's appeal was allowed. en-us Fri, 30 Apr 2010 00:00:00 +0530 Tue, 25 Jun 2013 19:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210356 The Tribunal held that no penalty under section 271(1)(c) should be imposed on the appellant for the disallowance of interest payable claim. The Commissioner of Income-tax (Appeals) had deleted the addition made by the Assessing Officer, emphasizing that the interest amount was a liability based on a court order. However, the Tribunal disagreed with the Commissioner, reinstating the Assessing Officer's addition. The Tribunal found that the appellant's varying positions in different assessment years were justified by external events, indicating no mala fide intent to evade taxes. Consequently, the penalty was canceled, and the appellant's appeal was allowed. Case-Laws Income Tax Fri, 30 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210356