https://www.taxtmi.com/caselaws?id=261783 The High Court upheld the Tribunal's decision regarding the penalty imposed under Section 271(1)(c) of the Income Tax Act for Assessment Year 2004-05. The Court found that the assessee had a reasonable cause to withdraw the claim for a specific part of the project, justifying the decision. The Court dismissed the revenue's appeal, stating that the Tribunal's view was reasonable and that the questions of law proposed were not substantial. No costs were awarded in this matter. en-us Tue, 07 Jul 2015 00:00:00 +0530 Wed, 22 Jul 2015 06:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261783 The High Court upheld the Tribunal's decision regarding the penalty imposed under Section 271(1)(c) of the Income Tax Act for Assessment Year 2004-05. The Court found that the assessee had a reasonable cause to withdraw the claim for a specific part of the project, justifying the decision. The Court dismissed the revenue's appeal, stating that the Tribunal's view was reasonable and that the questions of law proposed were not substantial. No costs were awarded in this matter. Case-Laws Income Tax Tue, 07 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261783