https://www.taxtmi.com/caselaws?id=176841 The HC held that the penalty under section 271(1)(c) was unjustified and allowed the appeal. The Tribunal noted that the penalty issue was debatable, referencing ongoing quantum proceedings and substantial questions of law. The HC concurred, finding no grounds for imposing the penalty and upheld its cancellation, ruling in favor of the assessee. en-us Tue, 08 Jul 2014 00:00:00 +0530 Mon, 28 Jul 2025 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176841 The HC held that the penalty under section 271(1)(c) was unjustified and allowed the appeal. The Tribunal noted that the penalty issue was debatable, referencing ongoing quantum proceedings and substantial questions of law. The HC concurred, finding no grounds for imposing the penalty and upheld its cancellation, ruling in favor of the assessee. Case-Laws Income Tax Tue, 08 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176841