https://www.taxtmi.com/caselaws?id=252789 The Court upheld the deletion of penalty based on the disallowance of depreciation for the assessment year 2001-02, related to lease transactions from 1995-96. The Tribunal found no concealment of income particulars, supporting the decision to delete the penalty. The appellant's argument regarding the Tribunal's failure to provide independent reasons was dismissed, with the Court emphasizing the availability of all relevant particulars to the department. The Tribunal's decision was deemed not erroneous, and the penalty deletion was upheld, with the appeal dismissed and no costs awarded. en-us Wed, 24 Sep 2014 00:00:00 +0530 Mon, 09 Feb 2015 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252789 The Court upheld the deletion of penalty based on the disallowance of depreciation for the assessment year 2001-02, related to lease transactions from 1995-96. The Tribunal found no concealment of income particulars, supporting the decision to delete the penalty. The appellant's argument regarding the Tribunal's failure to provide independent reasons was dismissed, with the Court emphasizing the availability of all relevant particulars to the department. The Tribunal's decision was deemed not erroneous, and the penalty deletion was upheld, with the appeal dismissed and no costs awarded. Case-Laws Income Tax Wed, 24 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252789