https://www.taxtmi.com/caselaws?id=180115 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the IT Act for the assessment year 2006-07. The penalty related to disallowances under section 40(a)(ia) and other expenses. The Tribunal found that the disallowances were technical in nature and did not amount to concealment of income. The Revenue's appeal was dismissed as they failed to provide material to challenge the CIT(A)'s decision. The Tribunal confirmed the deletion of the penalty, citing precedents where similar issues were decided in favor of the assessee. en-us Fri, 16 Mar 2012 00:00:00 +0530 Wed, 12 Jul 2017 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180115 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the IT Act for the assessment year 2006-07. The penalty related to disallowances under section 40(a)(ia) and other expenses. The Tribunal found that the disallowances were technical in nature and did not amount to concealment of income. The Revenue's appeal was dismissed as they failed to provide material to challenge the CIT(A)'s decision. The Tribunal confirmed the deletion of the penalty, citing precedents where similar issues were decided in favor of the assessee. Case-Laws Income Tax Fri, 16 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180115