https://www.taxtmi.com/caselaws?id=260401 The High Court upheld the Income Tax Appellate Tribunal's decision to delete a penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found differing views on disallowances made by the Assessing Officer, leading to the conclusion that the penalty was not warranted due to the debatable nature of the issue and the existence of two possible views. The High Court agreed with this assessment, dismissing the appeal for lacking merit and deciding not to award costs. en-us Thu, 16 Apr 2015 00:00:00 +0530 Thu, 11 Jun 2015 06:21:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260401 The High Court upheld the Income Tax Appellate Tribunal's decision to delete a penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found differing views on disallowances made by the Assessing Officer, leading to the conclusion that the penalty was not warranted due to the debatable nature of the issue and the existence of two possible views. The High Court agreed with this assessment, dismissing the appeal for lacking merit and deciding not to award costs. Case-Laws Income Tax Thu, 16 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260401