https://www.taxtmi.com/caselaws?id=264453 The High Court upheld the deletion of the penalty in its entirety by the Commissioner of Income Tax (Appeals) based on cogent reasons provided in the order. The court found the reasoning valid both factually and legally, concluding that the deletion of the penalty was justified based on the bona fide and substantiated explanation provided by the assessee. The Tribunal also affirmed the decision, with the court determining that the orders did not suffer from any error of law. en-us Wed, 12 Aug 2015 00:00:00 +0530 Thu, 24 Sep 2015 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264453 The High Court upheld the deletion of the penalty in its entirety by the Commissioner of Income Tax (Appeals) based on cogent reasons provided in the order. The court found the reasoning valid both factually and legally, concluding that the deletion of the penalty was justified based on the bona fide and substantiated explanation provided by the assessee. The Tribunal also affirmed the decision, with the court determining that the orders did not suffer from any error of law. Case-Laws Income Tax Wed, 12 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264453