https://www.taxtmi.com/caselaws?id=332198 The Tribunal allowed the appeal, deleting the penalty of &8377;13,50,559 imposed under section 271(1)(c) of the Income Tax Act for A.Y. 2001-02. The decision was based on the debatable nature of deductions claimed under sections 80IA and 80HHC, with the Tribunal finding that no penalty could be imposed for the specific issue related to section 80HHC due to the Assessing Officer's failure to initiate penalty proceedings in the fresh assessment order. The Tribunal's order on 10/02/2016 favored the assessee, providing a detailed analysis and overturning the penalty imposition. en-us Wed, 10 Feb 2016 00:00:00 +0530 Mon, 12 Sep 2016 16:38:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332198 The Tribunal allowed the appeal, deleting the penalty of &8377;13,50,559 imposed under section 271(1)(c) of the Income Tax Act for A.Y. 2001-02. The decision was based on the debatable nature of deductions claimed under sections 80IA and 80HHC, with the Tribunal finding that no penalty could be imposed for the specific issue related to section 80HHC due to the Assessing Officer's failure to initiate penalty proceedings in the fresh assessment order. The Tribunal's order on 10/02/2016 favored the assessee, providing a detailed analysis and overturning the penalty imposition. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332198