https://www.taxtmi.com/caselaws?id=176137 The High Court upheld the deletion of penalty under Section 271(1)(c) of the Income Tax Act, dismissing the Revenue's challenge. The court found no substantial question of law, considering the genuine explanation provided by the assessee and the retrospective effect of the relevant provision. The legal contentions raised by the assessee regarding Section 14A were deemed plausible, leading to the decision to confirm the deletion of the penalty. en-us Fri, 03 Feb 2012 00:00:00 +0530 Mon, 14 Aug 2017 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176137 The High Court upheld the deletion of penalty under Section 271(1)(c) of the Income Tax Act, dismissing the Revenue's challenge. The court found no substantial question of law, considering the genuine explanation provided by the assessee and the retrospective effect of the relevant provision. The legal contentions raised by the assessee regarding Section 14A were deemed plausible, leading to the decision to confirm the deletion of the penalty. Case-Laws Income Tax Fri, 03 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176137