https://www.taxtmi.com/caselaws?id=250568 The tribunal dismissed all revenue appeals, upholding the CIT(A)'s decisions to delete penalties imposed by the AO for AYs 2006-07, 2007-08, and 2008-09. Penalties were deleted for software expenses disallowance, under-valuation of WIP, and excess deduction claim under section 80IC. The tribunal emphasized that disagreements on expenses or deductions do not equate to concealment of income. The orders favored the assessee, with the tribunal finding no intentional concealment of income in the disputed claims. en-us Thu, 07 Aug 2014 00:00:00 +0530 Mon, 18 Aug 2014 20:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250568 The tribunal dismissed all revenue appeals, upholding the CIT(A)'s decisions to delete penalties imposed by the AO for AYs 2006-07, 2007-08, and 2008-09. Penalties were deleted for software expenses disallowance, under-valuation of WIP, and excess deduction claim under section 80IC. The tribunal emphasized that disagreements on expenses or deductions do not equate to concealment of income. The orders favored the assessee, with the tribunal finding no intentional concealment of income in the disputed claims. Case-Laws Income Tax Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250568