https://www.taxtmi.com/caselaws?id=261701 The ITAT Pune dismissed the quantum appeal (ITA No. 993/PN/2013) challenging the disallowance of development expenses of Rs. 50,02,425, upholding the Commissioner's decision due to inconsistencies in the claimed expenses. However, the penalty appeal (ITA No. 992/PN/2013) contesting a penalty of Rs. 17,00,324 under section 271(1)(c) was allowed by the ITAT Pune, as the assessee's explanations, though not fully substantiated, were found to be bona fide and lacking mala fide intent or concealment. en-us Fri, 10 Jul 2015 00:00:00 +0530 Mon, 20 Jul 2015 09:46:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261701 The ITAT Pune dismissed the quantum appeal (ITA No. 993/PN/2013) challenging the disallowance of development expenses of Rs. 50,02,425, upholding the Commissioner's decision due to inconsistencies in the claimed expenses. However, the penalty appeal (ITA No. 992/PN/2013) contesting a penalty of Rs. 17,00,324 under section 271(1)(c) was allowed by the ITAT Pune, as the assessee's explanations, though not fully substantiated, were found to be bona fide and lacking mala fide intent or concealment. Case-Laws Income Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261701