https://www.taxtmi.com/caselaws?id=234935 The Court upheld the Tribunal's decision to cancel the penalty levied under Section 271(1)(C), emphasizing the adequacy of the explanations provided by the assessee regarding the discrepancy in material consumption. The Court found no error in the Tribunal's decision, stating that no question of law, much less a substantial question of law, arose in the Tax Appeal, leading to the dismissal of the Appeal. en-us Tue, 25 Jun 2013 00:00:00 +0530 Wed, 03 Jul 2013 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234935 The Court upheld the Tribunal's decision to cancel the penalty levied under Section 271(1)(C), emphasizing the adequacy of the explanations provided by the assessee regarding the discrepancy in material consumption. The Court found no error in the Tribunal's decision, stating that no question of law, much less a substantial question of law, arose in the Tax Appeal, leading to the dismissal of the Appeal. Case-Laws Income Tax Tue, 25 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234935