https://www.taxtmi.com/caselaws?id=182131 The Tribunal upheld the decisions of the CIT(A) regarding both the interest expenses and motorcar hire charges issues for assessment years 1996-97 to 1998-99. It was determined that there was no concealment of income in either case, leading to the cancellation of the penalty imposed under section 271(1)(c). The Tribunal emphasized that all primary facts were disclosed, and the disallowances were based on legitimate considerations, resulting in the penalty being deemed unwarranted. en-us Tue, 20 Nov 2007 00:00:00 +0530 Tue, 03 May 2016 14:24:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182131 The Tribunal upheld the decisions of the CIT(A) regarding both the interest expenses and motorcar hire charges issues for assessment years 1996-97 to 1998-99. It was determined that there was no concealment of income in either case, leading to the cancellation of the penalty imposed under section 271(1)(c). The Tribunal emphasized that all primary facts were disclosed, and the disallowances were based on legitimate considerations, resulting in the penalty being deemed unwarranted. Case-Laws Income Tax Tue, 20 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182131