https://www.taxtmi.com/caselaws?id=180120 The Tribunal concluded that penalties under section 271(1)(c) were not justified on debatable issues or where the assessee had provided a bonafide explanation. Penalties were upheld only on the incorrect claim of additional depreciation and the disallowed deduction under section 80IA on interest income. The appeal of the assessee was partly allowed, and the appeal of the Revenue was dismissed. en-us Thu, 06 Mar 2014 00:00:00 +0530 Thu, 17 Mar 2016 10:27:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180120 The Tribunal concluded that penalties under section 271(1)(c) were not justified on debatable issues or where the assessee had provided a bonafide explanation. Penalties were upheld only on the incorrect claim of additional depreciation and the disallowed deduction under section 80IA on interest income. The appeal of the assessee was partly allowed, and the appeal of the Revenue was dismissed. Case-Laws Income Tax Thu, 06 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180120