https://www.taxtmi.com/caselaws?id=263295 The Court upheld the decisions of CIT (A) and ITAT, emphasizing the debatable nature of the issue and Assessee's actions to distinguish it from cases of intentional concealment, dismissing the appeal. The penalty imposition under Section 271(1)(c) was set aside as the treatment of compensation as business income was found debatable, differing from the AO and ITAT's stance. en-us Mon, 24 Aug 2015 00:00:00 +0530 Sat, 07 Nov 2015 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263295 The Court upheld the decisions of CIT (A) and ITAT, emphasizing the debatable nature of the issue and Assessee's actions to distinguish it from cases of intentional concealment, dismissing the appeal. The penalty imposition under Section 271(1)(c) was set aside as the treatment of compensation as business income was found debatable, differing from the AO and ITAT's stance. Case-Laws Income Tax Mon, 24 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263295