https://www.taxtmi.com/caselaws?id=211173 The Tribunal dismissed all three appeals of the assessee concerning disallowance under Section 40(a)(ia) for the assessment years 2005-06, 2006-07, and 2007-08, upholding the CIT(A)'s orders. Additionally, the Tribunal rejected the Revenue's appeal against the deletion of penalty under Section 271(1)(c) for the assessment year 2005-06, affirming the CIT(A)'s decision to delete the penalty for low gross profit based on estimates without concrete evidence. en-us Fri, 08 Jul 2011 00:00:00 +0530 Thu, 08 Mar 2012 19:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211173 The Tribunal dismissed all three appeals of the assessee concerning disallowance under Section 40(a)(ia) for the assessment years 2005-06, 2006-07, and 2007-08, upholding the CIT(A)'s orders. Additionally, the Tribunal rejected the Revenue's appeal against the deletion of penalty under Section 271(1)(c) for the assessment year 2005-06, affirming the CIT(A)'s decision to delete the penalty for low gross profit based on estimates without concrete evidence. Case-Laws Income Tax Fri, 08 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211173