https://www.taxtmi.com/caselaws?id=268834 The Tribunal deleted the penalty imposed under section 271(1)(c) for the assessment year 1990-91. The Assessing Officer's additions were deemed debatable, supported by the High Court's admission of legal issues regarding commission payment disallowance, expenditure on convertible debenture, and expenditure on a project not materialized. The Tribunal found no justification for penalty imposition due to the contentious nature of the issues, leading to the penalty's deletion. en-us Fri, 30 Oct 2015 00:00:00 +0530 Wed, 02 Dec 2015 22:21:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268834 The Tribunal deleted the penalty imposed under section 271(1)(c) for the assessment year 1990-91. The Assessing Officer's additions were deemed debatable, supported by the High Court's admission of legal issues regarding commission payment disallowance, expenditure on convertible debenture, and expenditure on a project not materialized. The Tribunal found no justification for penalty imposition due to the contentious nature of the issues, leading to the penalty's deletion. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268834