https://www.taxtmi.com/caselaws?id=263768 The tribunal partly allowed the appeal, confirming the penalty under section 271(1)(c) of the Income Tax Act, 1961, while directing the deletion of the penalty on the amount where relief was granted. The decision was based on considerations of the explanations provided by the assessee, relevant legal provisions, and case laws. The tribunal emphasized the importance of assessing facts, applying legal principles, and following binding decisions in confirming the penalty. en-us Wed, 05 Aug 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263768 The tribunal partly allowed the appeal, confirming the penalty under section 271(1)(c) of the Income Tax Act, 1961, while directing the deletion of the penalty on the amount where relief was granted. The decision was based on considerations of the explanations provided by the assessee, relevant legal provisions, and case laws. The tribunal emphasized the importance of assessing facts, applying legal principles, and following binding decisions in confirming the penalty. Case-Laws Income Tax Wed, 05 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263768