https://www.taxtmi.com/caselaws?id=215123 The tribunal partly allowed the quantum appeal, upholding the addition of Rs. 7,52,740/- for excess process loss but recalculating the exemption under Section 10A, significantly reducing the taxable income. The penalty appeal was fully allowed, leading to the deletion of the entire penalty imposed under Section 271(1)(c) due to lack of concrete evidence supporting the addition. en-us Thu, 28 Jun 2012 00:00:00 +0530 Wed, 25 Jul 2012 21:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215123 The tribunal partly allowed the quantum appeal, upholding the addition of Rs. 7,52,740/- for excess process loss but recalculating the exemption under Section 10A, significantly reducing the taxable income. The penalty appeal was fully allowed, leading to the deletion of the entire penalty imposed under Section 271(1)(c) due to lack of concrete evidence supporting the addition. Case-Laws Income Tax Thu, 28 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215123