https://www.taxtmi.com/caselaws?id=263391 The Tribunal dismissed the Revenue's appeal, upholding the deletion of penalties under section 271(1)(c) for excess claims of depreciation, concealed income from deduction under section 80IA, and excess claim of deduction under section 80IB. The Tribunal found the issues debatable, the assessee's explanations genuine, and the claims made in good faith, leading to the conclusion that the penalties were not justified. The lower authorities' decisions to delete the penalties were confirmed based on these factors. en-us Thu, 26 Feb 2015 00:00:00 +0530 Wed, 02 Sep 2015 07:45:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263391 The Tribunal dismissed the Revenue's appeal, upholding the deletion of penalties under section 271(1)(c) for excess claims of depreciation, concealed income from deduction under section 80IA, and excess claim of deduction under section 80IB. The Tribunal found the issues debatable, the assessee's explanations genuine, and the claims made in good faith, leading to the conclusion that the penalties were not justified. The lower authorities' decisions to delete the penalties were confirmed based on these factors. Case-Laws Income Tax Thu, 26 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263391