https://www.taxtmi.com/caselaws?id=186338 The Appellate Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 271(1)(c) by the Commissioner of Income tax (Appeals). The Tribunal found that the expenses claimed were based on a genuine belief in their allowability as revenue expenditure, not for tax advantage, and cited relevant case laws to support its decision. Consequently, the penalty was deemed unjustified and was deleted. en-us Fri, 13 Jan 2012 00:00:00 +0530 Wed, 14 Sep 2016 17:34:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186338 The Appellate Tribunal ruled in favor of the appellant, deleting the penalty imposed under section 271(1)(c) by the Commissioner of Income tax (Appeals). The Tribunal found that the expenses claimed were based on a genuine belief in their allowability as revenue expenditure, not for tax advantage, and cited relevant case laws to support its decision. Consequently, the penalty was deemed unjustified and was deleted. Case-Laws Income Tax Fri, 13 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186338