https://www.taxtmi.com/caselaws?id=218049 The penalty imposed under section 271(1)(c) for inaccurate income particulars related to a deduction claim under section 80HHC for A.Y. 1991-92 was canceled. The Tribunal upheld the decision, emphasizing the debatable nature of the deduction issue, indicating no concealment or inaccurate particulars. Similarly, the disallowance of excess remuneration to Managing and Executive Directors for A.Y. 2004-05 under section 40A(2)(a) was deleted. The Tribunal found the remuneration within limits set by the Companies Act, citing Company Law Board approval as indicative of reasonableness, leading to the dismissal of the Revenue's appeal. en-us Fri, 19 Oct 2012 00:00:00 +0530 Fri, 02 Nov 2012 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218049 The penalty imposed under section 271(1)(c) for inaccurate income particulars related to a deduction claim under section 80HHC for A.Y. 1991-92 was canceled. The Tribunal upheld the decision, emphasizing the debatable nature of the deduction issue, indicating no concealment or inaccurate particulars. Similarly, the disallowance of excess remuneration to Managing and Executive Directors for A.Y. 2004-05 under section 40A(2)(a) was deleted. The Tribunal found the remuneration within limits set by the Companies Act, citing Company Law Board approval as indicative of reasonableness, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218049