https://www.taxtmi.com/caselaws?id=267765 The Tribunal allowed the appeal, canceling the penalty under section 271(1)(c) of the Income-tax Act, 1961, as the appellant's conduct was deemed bona fide and there was an honest difference of opinion with the Revenue regarding the set-off of losses. The Tribunal concluded that the penalty was not warranted in this case, given the debatable nature of the issue and the appellant's proactive disclosure of relevant facts. en-us Wed, 18 Mar 2015 00:00:00 +0530 Sat, 14 Nov 2015 12:15:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267765 The Tribunal allowed the appeal, canceling the penalty under section 271(1)(c) of the Income-tax Act, 1961, as the appellant's conduct was deemed bona fide and there was an honest difference of opinion with the Revenue regarding the set-off of losses. The Tribunal concluded that the penalty was not warranted in this case, given the debatable nature of the issue and the appellant's proactive disclosure of relevant facts. Case-Laws Income Tax Wed, 18 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267765