https://www.taxtmi.com/caselaws?id=179897 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act. The Revenue's appeal against the deletion of the penalty of Rs. 2,87,115/- was dismissed, as the Tribunal found the issue regarding the deduction claim to be debatable and not warranting a penalty. It was determined that the claim was genuine, and there was no evidence of falsity or inaccuracy in the information provided. The Tribunal referenced the decision in Reliance Petroproducts Ltd. to support its conclusion. en-us Fri, 18 Mar 2011 00:00:00 +0530 Fri, 11 Mar 2016 16:21:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179897 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act. The Revenue's appeal against the deletion of the penalty of Rs. 2,87,115/- was dismissed, as the Tribunal found the issue regarding the deduction claim to be debatable and not warranting a penalty. It was determined that the claim was genuine, and there was no evidence of falsity or inaccuracy in the information provided. The Tribunal referenced the decision in Reliance Petroproducts Ltd. to support its conclusion. Case-Laws Income Tax Fri, 18 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179897