https://www.taxtmi.com/caselaws?id=178282 The ITAT allowed the appeals by M/s Mayur Overseas, M/s Raj Overseas, and M/s Yati Overseas, deleting penalties imposed under section 271(1)(c) due to the debatable nature of the issue regarding the admissibility of deductions under section 80-IB on export incentives. The ITAT considered conflicting views and legal precedents, ultimately finding the claims to be bona fide and in line with recent orders, leading to the deletion of penalties. en-us Fri, 17 Apr 2009 00:00:00 +0530 Mon, 01 Feb 2016 15:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178282 The ITAT allowed the appeals by M/s Mayur Overseas, M/s Raj Overseas, and M/s Yati Overseas, deleting penalties imposed under section 271(1)(c) due to the debatable nature of the issue regarding the admissibility of deductions under section 80-IB on export incentives. The ITAT considered conflicting views and legal precedents, ultimately finding the claims to be bona fide and in line with recent orders, leading to the deletion of penalties. Case-Laws Income Tax Fri, 17 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178282