https://www.taxtmi.com/caselaws?id=262500 The Tribunal upheld the penalty under Section 271(1)(c) for disallowed deduction under Section 10B on interest income, citing lack of substantiation by the assessee. The Tribunal dismissed the ground related to payments to CIC Ltd. The Tribunal also dismissed the Revenue's appeals regarding the deduction under Section 10B on certain receipts but reserved the right for the Revenue to pursue the matter pending a High Court decision. en-us Fri, 07 Aug 2015 00:00:00 +0530 Wed, 12 Aug 2015 06:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262500 The Tribunal upheld the penalty under Section 271(1)(c) for disallowed deduction under Section 10B on interest income, citing lack of substantiation by the assessee. The Tribunal dismissed the ground related to payments to CIC Ltd. The Tribunal also dismissed the Revenue's appeals regarding the deduction under Section 10B on certain receipts but reserved the right for the Revenue to pursue the matter pending a High Court decision. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262500