https://www.taxtmi.com/caselaws?id=241854 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) for the appellant's claim of deduction under section 80IB(10) on a proportionate basis. The Tribunal found that the penalty was not justified due to the debatable nature of the issue and the deletion of the disallowance in the quantum appeal, ultimately dismissing the department's appeal and affirming the cancellation of the penalty. en-us Fri, 27 Dec 2013 00:00:00 +0530 Thu, 02 Jan 2014 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241854 The Tribunal upheld the CIT(A)'s decision to cancel the penalty imposed under section 271(1)(c) for the appellant's claim of deduction under section 80IB(10) on a proportionate basis. The Tribunal found that the penalty was not justified due to the debatable nature of the issue and the deletion of the disallowance in the quantum appeal, ultimately dismissing the department's appeal and affirming the cancellation of the penalty. Case-Laws Income Tax Fri, 27 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241854