https://www.taxtmi.com/caselaws?id=245844 The Tribunal partially allowed the appeal regarding penalty under Section 271(1)(c) of the Income Tax Act for excess claims under Section 10B. The penalty for including interest income in the claim was deemed unsustainable and deleted, as it was a debatable issue. However, the penalty for including insurance and freight charges was upheld, as these charges were specifically excluded under Section 10B. The Tribunal directed the Assessing Officer to quantify the penalty accordingly. The decision was rendered on February 28, 2014. en-us Fri, 28 Mar 2014 00:00:00 +0530 Wed, 09 Apr 2014 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245844 The Tribunal partially allowed the appeal regarding penalty under Section 271(1)(c) of the Income Tax Act for excess claims under Section 10B. The penalty for including interest income in the claim was deemed unsustainable and deleted, as it was a debatable issue. However, the penalty for including insurance and freight charges was upheld, as these charges were specifically excluded under Section 10B. The Tribunal directed the Assessing Officer to quantify the penalty accordingly. The decision was rendered on February 28, 2014. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245844