https://www.taxtmi.com/caselaws?id=333411 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order deleting the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the assessee had made a bonafide claim based on expert advice, disclosed all particulars, and provided explanations that were not found to be false. The penalty was deemed not applicable under the circumstances. en-us Thu, 25 Aug 2016 00:00:00 +0530 Thu, 13 Oct 2016 09:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333411 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order deleting the penalty under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the assessee had made a bonafide claim based on expert advice, disclosed all particulars, and provided explanations that were not found to be false. The penalty was deemed not applicable under the circumstances. Case-Laws Income Tax Thu, 25 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333411