https://www.taxtmi.com/caselaws?id=181201 The Tribunal dismissed the Revenue's appeal and allowed the Assessee's appeal in a case involving penalties under section 271(1)(c). The Tribunal upheld the deletion of penalty on excess depreciation, emphasizing it was a genuine dispute on the correct rate rather than deliberate concealment. Additionally, penalties on brokerage expenses were deleted as they were deemed excessive but not bogus, and penalties on foreign tour expenses were overturned due to lack of evidence and unjustified disallowance. en-us Thu, 23 Dec 2010 00:00:00 +0530 Sat, 09 Apr 2016 13:03:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181201 The Tribunal dismissed the Revenue's appeal and allowed the Assessee's appeal in a case involving penalties under section 271(1)(c). The Tribunal upheld the deletion of penalty on excess depreciation, emphasizing it was a genuine dispute on the correct rate rather than deliberate concealment. Additionally, penalties on brokerage expenses were deleted as they were deemed excessive but not bogus, and penalties on foreign tour expenses were overturned due to lack of evidence and unjustified disallowance. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181201