https://www.taxtmi.com/caselaws?id=333611 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Court emphasized that the mere debatability of a claim in quantum proceedings does not automatically warrant a penalty if there is no deliberate concealment or provision of false information. The judgment highlighted the importance of distinguishing between incorrect claims and deliberate misrepresentation while determining the imposition of penalties under the Act. en-us Wed, 05 Oct 2016 00:00:00 +0530 Wed, 19 Oct 2016 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333611 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Court emphasized that the mere debatability of a claim in quantum proceedings does not automatically warrant a penalty if there is no deliberate concealment or provision of false information. The judgment highlighted the importance of distinguishing between incorrect claims and deliberate misrepresentation while determining the imposition of penalties under the Act. Case-Laws Income Tax Wed, 05 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333611