https://www.taxtmi.com/caselaws?id=255535 The Tribunal concluded that the penalty levied on the disallowance made under Section 94(7) of the Income Tax Act was liable to be deleted, directing the Assessing Officer to remove the penalty. As the disallowance of expenses issue was sent back to the AO for re-examination, the penalty on this matter did not stand. The assessee's appeal was allowed, and the order was issued on 9th January 2015. en-us Fri, 09 Jan 2015 00:00:00 +0530 Tue, 20 Jan 2015 07:14:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255535 The Tribunal concluded that the penalty levied on the disallowance made under Section 94(7) of the Income Tax Act was liable to be deleted, directing the Assessing Officer to remove the penalty. As the disallowance of expenses issue was sent back to the AO for re-examination, the penalty on this matter did not stand. The assessee's appeal was allowed, and the order was issued on 9th January 2015. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255535