https://www.taxtmi.com/caselaws?id=180951 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision to delete the penalty imposed on the respondent assessee under section 271(1)(c) of the Income Tax Act, 1961. The Court found no legal question for consideration, emphasizing that the mere disallowance of a claim, without questioning the genuineness of the expenditure, does not justify penalty imposition. The Tribunal's reliance on precedent and the divergent opinions on disallowances under section 40(a)(ia) for transporters supported the decision to uphold the deletion of the penalty. en-us Mon, 06 Jan 2014 00:00:00 +0530 Tue, 05 Apr 2016 10:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180951 The High Court dismissed the Tax Appeal, affirming the Tribunal's decision to delete the penalty imposed on the respondent assessee under section 271(1)(c) of the Income Tax Act, 1961. The Court found no legal question for consideration, emphasizing that the mere disallowance of a claim, without questioning the genuineness of the expenditure, does not justify penalty imposition. The Tribunal's reliance on precedent and the divergent opinions on disallowances under section 40(a)(ia) for transporters supported the decision to uphold the deletion of the penalty. Case-Laws Income Tax Mon, 06 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180951