https://www.taxtmi.com/caselaws?id=263665 The Tribunal upheld the Respondent-Assessee's appeal in a tax penalty case related to interest paid on an External Commercial Borrowing loan and compensation for project services. The Tribunal found that the Respondent-Assessee had made full disclosure and acted in good faith, leading to the dismissal of the penalties imposed by the Assessing Officer. The decisions were based on the principles of full disclosure, bona fide beliefs, and non-falsity of details, aligning with relevant legal precedents. The Appeals were dismissed, with no order as to costs. en-us Wed, 26 Aug 2015 00:00:00 +0530 Tue, 08 Sep 2015 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263665 The Tribunal upheld the Respondent-Assessee's appeal in a tax penalty case related to interest paid on an External Commercial Borrowing loan and compensation for project services. The Tribunal found that the Respondent-Assessee had made full disclosure and acted in good faith, leading to the dismissal of the penalties imposed by the Assessing Officer. The decisions were based on the principles of full disclosure, bona fide beliefs, and non-falsity of details, aligning with relevant legal precedents. The Appeals were dismissed, with no order as to costs. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263665