https://www.taxtmi.com/caselaws?id=266206 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, against the assessee for making incorrect claims for deductions against rental income. The Delhi High Court remanded the matter for deciding the penalty on its merits, emphasizing the necessity of proper satisfaction in the assessment order before initiating penalty proceedings. The Tribunal found the deductions claimed by the assessee to be inadmissible under the Act, leading to the dismissal of the appeal and affirmation of the penalty imposed by the Assessing Officer. en-us Thu, 19 Mar 2015 00:00:00 +0530 Mon, 19 Oct 2015 07:46:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266206 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, against the assessee for making incorrect claims for deductions against rental income. The Delhi High Court remanded the matter for deciding the penalty on its merits, emphasizing the necessity of proper satisfaction in the assessment order before initiating penalty proceedings. The Tribunal found the deductions claimed by the assessee to be inadmissible under the Act, leading to the dismissal of the appeal and affirmation of the penalty imposed by the Assessing Officer. Case-Laws Income Tax Thu, 19 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266206