https://www.taxtmi.com/caselaws?id=250118 The Tribunal allowed the appeals of the assessee, canceling the penalties imposed under section 271(1)(c) for assessment years 2003-04 and 2004-05. The Tribunal found the legal expenses claimed for defending in criminal proceedings were not personal but related to professional activities. Emphasizing the absence of inaccurate particulars and the bonafide nature of the claim, the Tribunal held that the penalties were unjustified, following the principles outlined in the Reliance Petroproducts Ltd. case. en-us Wed, 30 Jul 2014 00:00:00 +0530 Mon, 04 Aug 2014 11:19:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250118 The Tribunal allowed the appeals of the assessee, canceling the penalties imposed under section 271(1)(c) for assessment years 2003-04 and 2004-05. The Tribunal found the legal expenses claimed for defending in criminal proceedings were not personal but related to professional activities. Emphasizing the absence of inaccurate particulars and the bonafide nature of the claim, the Tribunal held that the penalties were unjustified, following the principles outlined in the Reliance Petroproducts Ltd. case. Case-Laws Income Tax Wed, 30 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250118