https://www.taxtmi.com/caselaws?id=177195 The appeal was dismissed, affirming the decision to delete the penalty under sec. 271(1)(c) of the Income-tax Act, 1961. The Tribunal upheld the first appellate order based on the legal principles established by the Hon'ble jurisdictional Delhi High Court. The penalty was deemed unjustified as the income computed normally was less than that determined under sec. 115JB of the Act, following the precedent set in CIT vs. Nalwa Sons Investments Ltd. en-us Thu, 16 Apr 2015 00:00:00 +0530 Tue, 05 Jan 2016 11:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177195 The appeal was dismissed, affirming the decision to delete the penalty under sec. 271(1)(c) of the Income-tax Act, 1961. The Tribunal upheld the first appellate order based on the legal principles established by the Hon'ble jurisdictional Delhi High Court. The penalty was deemed unjustified as the income computed normally was less than that determined under sec. 115JB of the Act, following the precedent set in CIT vs. Nalwa Sons Investments Ltd. Case-Laws Income Tax Thu, 16 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177195