https://www.taxtmi.com/caselaws?id=184299 The Tribunal dismissed the revenue's appeal, ruling that it was not appropriate to impose a penalty under section 271(1)(c) for disputed disallowances. The penalty of Rs. 1,07,50,171 was deleted based on various reasons, including the debatable nature of certain expenses, the bonafide conduct of the assessee, and ongoing assessments. The Tribunal upheld the deletion of penalty on items such as Additional Depreciation, Exemption u/s 10B, Guarantee Commission, Repair and Maintenance Expenses, and Foreign Travelling Expenses. en-us Wed, 04 Mar 2015 00:00:00 +0530 Tue, 05 Jul 2016 11:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184299 The Tribunal dismissed the revenue's appeal, ruling that it was not appropriate to impose a penalty under section 271(1)(c) for disputed disallowances. The penalty of Rs. 1,07,50,171 was deleted based on various reasons, including the debatable nature of certain expenses, the bonafide conduct of the assessee, and ongoing assessments. The Tribunal upheld the deletion of penalty on items such as Additional Depreciation, Exemption u/s 10B, Guarantee Commission, Repair and Maintenance Expenses, and Foreign Travelling Expenses. Case-Laws Income Tax Wed, 04 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184299