https://www.taxtmi.com/caselaws?id=325637 The ITAT ruled in favor of the assessee in a case involving the disallowance of expenses incurred by reimbursement of communication fees and the penalty levied under section 271(1)(c) of the Income Tax Act, 1961. The ITAT upheld the decision to delete the disallowance of expenses, stating that there was no escapement of income, hence no penalty should be imposed. Regarding the penalty imposed, the ITAT found no deliberate intention to furnish inaccurate particulars of income by the assessee, leading to the allowance of the assessee's appeal and the dismissal of the Revenue's appeal. en-us Tue, 16 Feb 2016 00:00:00 +0530 Fri, 25 Mar 2016 09:35:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325637 The ITAT ruled in favor of the assessee in a case involving the disallowance of expenses incurred by reimbursement of communication fees and the penalty levied under section 271(1)(c) of the Income Tax Act, 1961. The ITAT upheld the decision to delete the disallowance of expenses, stating that there was no escapement of income, hence no penalty should be imposed. Regarding the penalty imposed, the ITAT found no deliberate intention to furnish inaccurate particulars of income by the assessee, leading to the allowance of the assessee's appeal and the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 16 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325637