https://www.taxtmi.com/caselaws?id=325732 The tribunal dismissed all revenue appeals challenging penalties under section 271(1)(c) for disallowances of prior period expenditure, section 35D deduction, and excess remuneration to the Managing Director for assessment years 1998-99 to 2001-02. The penalties were deleted as the disallowances were found to be part of rearrangement exercises without intent to provide inaccurate particulars of income, aligning with past practices and lacking misleading elements. The tribunal's decision was consistent with findings for the initial assessment year, extending to subsequent years. en-us Thu, 18 Feb 2016 00:00:00 +0530 Mon, 28 Mar 2016 07:01:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325732 The tribunal dismissed all revenue appeals challenging penalties under section 271(1)(c) for disallowances of prior period expenditure, section 35D deduction, and excess remuneration to the Managing Director for assessment years 1998-99 to 2001-02. The penalties were deleted as the disallowances were found to be part of rearrangement exercises without intent to provide inaccurate particulars of income, aligning with past practices and lacking misleading elements. The tribunal's decision was consistent with findings for the initial assessment year, extending to subsequent years. Case-Laws Income Tax Thu, 18 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325732