https://www.taxtmi.com/caselaws?id=185583 The Tribunal allowed the appeal filed by the assessee, canceling the penalty levied under section 271(1)(c) on the disallowance of Y2K expenses. The Tribunal found that the assessee's claim was made in good faith based on an auditor's certificate, with no concealment or furnishing of inaccurate particulars of income. Penalties on the disallowance of foreign travel expenses and the addition of closing stock of consumables/spares were also canceled. The appeal was allowed, and the order was pronounced on 27.04.2009. en-us Mon, 27 Apr 2009 00:00:00 +0530 Sat, 20 Aug 2016 13:13:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185583 The Tribunal allowed the appeal filed by the assessee, canceling the penalty levied under section 271(1)(c) on the disallowance of Y2K expenses. The Tribunal found that the assessee's claim was made in good faith based on an auditor's certificate, with no concealment or furnishing of inaccurate particulars of income. Penalties on the disallowance of foreign travel expenses and the addition of closing stock of consumables/spares were also canceled. The appeal was allowed, and the order was pronounced on 27.04.2009. Case-Laws Income Tax Mon, 27 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185583