https://www.taxtmi.com/caselaws?id=238971 The Tribunal allowed the Revenue's appeal against the deletion of penalty under section 271(1)(c) for the assessment years 1997-98 and 1998-99. The dispute revolved around claimed business expenditure on the managing director's son's education abroad, with the Revenue arguing it was personal in nature due to lack of business connection. The Tribunal found insufficient evidence supporting the business purpose of the expenditure and remitted the case for a fresh decision, emphasizing the need for a reasonable opportunity for the assessee to present their case. The appeals were allowed for statistical purposes, directing reevaluation of the penalty deletion. en-us Fri, 23 Nov 2012 00:00:00 +0530 Fri, 01 Nov 2013 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238971 The Tribunal allowed the Revenue's appeal against the deletion of penalty under section 271(1)(c) for the assessment years 1997-98 and 1998-99. The dispute revolved around claimed business expenditure on the managing director's son's education abroad, with the Revenue arguing it was personal in nature due to lack of business connection. The Tribunal found insufficient evidence supporting the business purpose of the expenditure and remitted the case for a fresh decision, emphasizing the need for a reasonable opportunity for the assessee to present their case. The appeals were allowed for statistical purposes, directing reevaluation of the penalty deletion. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238971