https://www.taxtmi.com/caselaws?id=267827 The Tribunal held that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee's claim was bona fide and supported by existing legal precedent. The order imposing the penalty was set aside, and the Assessing Officer was directed to delete the penalty. Consequently, the appeals were allowed, and the penalties under section 271(1)(c) were ordered to be deleted. en-us Wed, 30 Sep 2015 00:00:00 +0530 Sat, 14 Nov 2015 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267827 The Tribunal held that the penalty under section 271(1)(c) of the Income Tax Act was not justified as the assessee's claim was bona fide and supported by existing legal precedent. The order imposing the penalty was set aside, and the Assessing Officer was directed to delete the penalty. Consequently, the appeals were allowed, and the penalties under section 271(1)(c) were ordered to be deleted. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267827