https://www.taxtmi.com/caselaws?id=184891 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeals on penalties under section 271(1)(c) for various issues including undervaluation of stock and disallowance of depreciation. The Tribunal found the issues debatable and not warranting penal action, citing relevant case law such as CIT vs. Reliance Petro Products Ltd. and a judgment of the Jurisdictional High Court. en-us Fri, 23 Mar 2012 00:00:00 +0530 Sat, 23 Jul 2016 13:40:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184891 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeals on penalties under section 271(1)(c) for various issues including undervaluation of stock and disallowance of depreciation. The Tribunal found the issues debatable and not warranting penal action, citing relevant case law such as CIT vs. Reliance Petro Products Ltd. and a judgment of the Jurisdictional High Court. Case-Laws Income Tax Fri, 23 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184891