https://www.taxtmi.com/caselaws?id=329504 The Tribunal set aside the CIT(A)'s decision and directed the AO to delete the penalty of Rs. 2,19,284 imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee had fully disclosed the foreign travel expenses and made the claim under a bona fide belief. It concluded that the disallowance of the expenses did not warrant the penalty, as the nature of the expenses being for business purposes was debatable. The appeal of the assessee was allowed, and the penalty was revoked. en-us Wed, 08 Jun 2016 00:00:00 +0530 Mon, 04 Jul 2016 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329504 The Tribunal set aside the CIT(A)'s decision and directed the AO to delete the penalty of Rs. 2,19,284 imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the assessee had fully disclosed the foreign travel expenses and made the claim under a bona fide belief. It concluded that the disallowance of the expenses did not warrant the penalty, as the nature of the expenses being for business purposes was debatable. The appeal of the assessee was allowed, and the penalty was revoked. Case-Laws Income Tax Wed, 08 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329504