https://www.taxtmi.com/caselaws?id=217994 The Tribunal dismissed the appeal, confirming the penalty for disallowance of capital expenditure on R&D. However, the penalties related to unutilized Modvat Credit and excess depreciation on motor vehicles were deleted. The Tribunal emphasized the necessity of substantiating claims with genuine evidence and distinguished between debatable and bogus claims, stating that the latter warrants penalties. en-us Fri, 18 May 2012 00:00:00 +0530 Thu, 01 Nov 2012 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217994 The Tribunal dismissed the appeal, confirming the penalty for disallowance of capital expenditure on R&D. However, the penalties related to unutilized Modvat Credit and excess depreciation on motor vehicles were deleted. The Tribunal emphasized the necessity of substantiating claims with genuine evidence and distinguished between debatable and bogus claims, stating that the latter warrants penalties. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217994