https://www.taxtmi.com/caselaws?id=325965 The Tribunal allowed the appeal of the assessee, directing the disallowed losses to be allowed. The penalty under Section 271(1)(c) was cancelled as it had no basis after deletion of quantum additions. Both appeals by the assessee were allowed, with the order pronounced on 15th February 2016. en-us Mon, 15 Feb 2016 00:00:00 +0530 Sat, 02 Apr 2016 10:43:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325965 The Tribunal allowed the appeal of the assessee, directing the disallowed losses to be allowed. The penalty under Section 271(1)(c) was cancelled as it had no basis after deletion of quantum additions. Both appeals by the assessee were allowed, with the order pronounced on 15th February 2016. Case-Laws Income Tax Mon, 15 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325965