https://www.taxtmi.com/caselaws?id=237704 The High Court upheld the deletion of penalties under Section 271(1)(c) of the Income-Tax Act in a Tax Appeal. The penalties were deleted regarding commission payments and expenditure on marketing expenses to the holding company. The Court agreed with the CIT (Appeals) and the Tribunal that there was no concealment or furnishment of inaccurate particulars by the assessee. The Court emphasized that the disallowance of claims does not automatically imply concealment of income, leading to the conclusion that penalties were not justified in this case. The appeal was dismissed as it did not raise any substantial question of law. en-us Mon, 18 Mar 2013 00:00:00 +0530 Sat, 05 Oct 2013 08:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237704 The High Court upheld the deletion of penalties under Section 271(1)(c) of the Income-Tax Act in a Tax Appeal. The penalties were deleted regarding commission payments and expenditure on marketing expenses to the holding company. The Court agreed with the CIT (Appeals) and the Tribunal that there was no concealment or furnishment of inaccurate particulars by the assessee. The Court emphasized that the disallowance of claims does not automatically imply concealment of income, leading to the conclusion that penalties were not justified in this case. The appeal was dismissed as it did not raise any substantial question of law. Case-Laws Income Tax Mon, 18 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237704