https://www.taxtmi.com/caselaws?id=326696 The Tribunal ruled in favor of the assessee, allowing the appeal and deleting the penalty imposed under section 271(1)(c) of the Income-tax Act. The decision was based on the debatable nature of the issue, as indicated by the admission of substantial questions of law in the quantum appeal by the jurisdictional High Court. The Tribunal's decision aligned with the principles established by the High Courts, leading to the penalty deletion in this case. en-us Thu, 07 Apr 2016 00:00:00 +0530 Fri, 22 Apr 2016 08:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326696 The Tribunal ruled in favor of the assessee, allowing the appeal and deleting the penalty imposed under section 271(1)(c) of the Income-tax Act. The decision was based on the debatable nature of the issue, as indicated by the admission of substantial questions of law in the quantum appeal by the jurisdictional High Court. The Tribunal's decision aligned with the principles established by the High Courts, leading to the penalty deletion in this case. Case-Laws Income Tax Thu, 07 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326696