https://www.taxtmi.com/caselaws?id=256994 The High Court upheld the Tribunal's decision to impose a penalty on disallowance of capital expenditure for Research and Development due to the Assessee's failure to provide necessary evidence. The Court emphasized the importance of producing primary evidence like bills to substantiate claims, reducing the penalty amount based on available evidence. The Appeal was dismissed as no substantial question of law was raised, affirming the Tribunal's penalty imposition under section 271(1)(c) of the Income Tax Act, 1961. en-us Wed, 07 Jan 2015 00:00:00 +0530 Fri, 27 Feb 2015 10:31:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256994 The High Court upheld the Tribunal's decision to impose a penalty on disallowance of capital expenditure for Research and Development due to the Assessee's failure to provide necessary evidence. The Court emphasized the importance of producing primary evidence like bills to substantiate claims, reducing the penalty amount based on available evidence. The Appeal was dismissed as no substantial question of law was raised, affirming the Tribunal's penalty imposition under section 271(1)(c) of the Income Tax Act, 1961. Case-Laws Income Tax Wed, 07 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256994