https://www.taxtmi.com/caselaws?id=333226 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under Section 271(1)(c) for all assessment years, finding that the assessee made full disclosure and the taxability of Fees for Technical Services (FTS) on accrual versus cash basis was debatable. The Tribunal concluded that there was no concealment or inaccurate particulars of income, as the income was offered in subsequent years when received, resulting in no loss to the Revenue. The Revenue's appeals were dismissed. en-us Wed, 24 Aug 2016 00:00:00 +0530 Fri, 07 Oct 2016 17:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333226 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under Section 271(1)(c) for all assessment years, finding that the assessee made full disclosure and the taxability of Fees for Technical Services (FTS) on accrual versus cash basis was debatable. The Tribunal concluded that there was no concealment or inaccurate particulars of income, as the income was offered in subsequent years when received, resulting in no loss to the Revenue. The Revenue's appeals were dismissed. Case-Laws Income Tax Wed, 24 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333226