https://www.taxtmi.com/caselaws?id=179397 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection, thereby deleting the penalties imposed under section 271(1)(c) for both excess depreciation and the alleged fund transfer from M/s R.K. Video Distributor. The Tribunal held that the assessee had not concealed any income and that the discrepancies were matters of opinion, citing relevant case law to support its decision. en-us Fri, 09 Mar 2012 00:00:00 +0530 Mon, 29 Feb 2016 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179397 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection, thereby deleting the penalties imposed under section 271(1)(c) for both excess depreciation and the alleged fund transfer from M/s R.K. Video Distributor. The Tribunal held that the assessee had not concealed any income and that the discrepancies were matters of opinion, citing relevant case law to support its decision. Case-Laws Income Tax Fri, 09 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179397