https://www.taxtmi.com/caselaws?id=216312 The High Court upheld the Tribunal's decision to delete penalties imposed by the Assessing Officer under sections 35D and 271(1)(c) of the Income Tax Act. The penalties were deleted as the respondent had disclosed all necessary facts, and the disallowance of claims was deemed a legal issue without concealment or inaccurate particulars. The court emphasized that penalties do not apply solely for making unsustainable claims in law, referencing the Supreme Court's ruling in CIT vs. Reliance Petroproducts Pvt. Ltd. The appeal was dismissed as it did not raise a substantial question of law. en-us Tue, 14 Aug 2012 00:00:00 +0530 Wed, 05 Sep 2012 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216312 The High Court upheld the Tribunal's decision to delete penalties imposed by the Assessing Officer under sections 35D and 271(1)(c) of the Income Tax Act. The penalties were deleted as the respondent had disclosed all necessary facts, and the disallowance of claims was deemed a legal issue without concealment or inaccurate particulars. The court emphasized that penalties do not apply solely for making unsustainable claims in law, referencing the Supreme Court's ruling in CIT vs. Reliance Petroproducts Pvt. Ltd. The appeal was dismissed as it did not raise a substantial question of law. Case-Laws Income Tax Tue, 14 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216312