https://www.taxtmi.com/caselaws?id=248428 The Tribunal partially allows the appeal, remanding the disallowed provisions on contracts for fresh adjudication. The penalty is automatically vacated for contracts not appealed by the Revenue. The disallowance of software expenses and deduction u/s. 80-HHB is negated based on the quantum proceedings, leading to no penalty imposition in those instances. The Tribunal emphasizes the importance of factual and legal explanations provided by the assessee in determining penalty imposition under section 271(1)(c) of the Income Tax Act, 1961. en-us Wed, 28 May 2014 00:00:00 +0530 Thu, 12 Jun 2014 11:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248428 The Tribunal partially allows the appeal, remanding the disallowed provisions on contracts for fresh adjudication. The penalty is automatically vacated for contracts not appealed by the Revenue. The disallowance of software expenses and deduction u/s. 80-HHB is negated based on the quantum proceedings, leading to no penalty imposition in those instances. The Tribunal emphasizes the importance of factual and legal explanations provided by the assessee in determining penalty imposition under section 271(1)(c) of the Income Tax Act, 1961. Case-Laws Income Tax Wed, 28 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248428