https://www.taxtmi.com/caselaws?id=270344 The BOMBAY HIGH COURT dismissed the appeal challenging the Income Tax Appellate Tribunal's order for the Assessment Year 2003-04 regarding the penalty under Section 271(1)(c) of the Income Tax Act. The Court upheld the deletion of the penalty by the Commissioner of Income Tax (Appeals) and the Tribunal, emphasizing that the admission of a question of law before the High Court in quantum proceedings indicates a debatable issue, thus precluding the imposition of a penalty. The Court relied on precedent and dismissed the Revenue's appeal, finding no substantial question of law to consider. No costs were awarded. en-us Wed, 02 Dec 2015 00:00:00 +0530 Mon, 04 Jan 2016 12:59:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270344 The BOMBAY HIGH COURT dismissed the appeal challenging the Income Tax Appellate Tribunal's order for the Assessment Year 2003-04 regarding the penalty under Section 271(1)(c) of the Income Tax Act. The Court upheld the deletion of the penalty by the Commissioner of Income Tax (Appeals) and the Tribunal, emphasizing that the admission of a question of law before the High Court in quantum proceedings indicates a debatable issue, thus precluding the imposition of a penalty. The Court relied on precedent and dismissed the Revenue's appeal, finding no substantial question of law to consider. No costs were awarded. Case-Laws Income Tax Wed, 02 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270344