https://www.taxtmi.com/caselaws?id=248764 The appeal against the penalty under section 271(1)(c) of the Income Tax Act, 1961 for A.Y. 2004-05 was partly allowed. The penalty was deleted on grounds related to depreciation on leased assets, higher depreciation on UPS, and incremental commission disallowance. However, the issue of expenditure on renovation and architect's fees was sent back for further adjudication. The disallowance of expenditure under section 14A was dismissed. en-us Mon, 09 Jun 2014 00:00:00 +0530 Tue, 24 Jun 2014 08:07:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248764 The appeal against the penalty under section 271(1)(c) of the Income Tax Act, 1961 for A.Y. 2004-05 was partly allowed. The penalty was deleted on grounds related to depreciation on leased assets, higher depreciation on UPS, and incremental commission disallowance. However, the issue of expenditure on renovation and architect's fees was sent back for further adjudication. The disallowance of expenditure under section 14A was dismissed. Case-Laws Income Tax Mon, 09 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248764