https://www.taxtmi.com/caselaws?id=336361 The Court upheld the Tribunal's decision to delete penalties imposed under Section 271(1)(c) of the Income Tax Act for Assessment Years 2002-03 and 2003-04. The Tribunal found no defects in the allocation method of expenses for the unit eligible for deduction under Section 80IA, concluding that the assessee's actions did not warrant penalties for furnishing inaccurate particulars. The Court dismissed the Revenue's appeals, stating that the issue did not raise any substantial question of law, emphasizing that the expense allocation was a matter of opinion and did not signify deliberate concealment or inaccuracies in income particulars. en-us Fri, 09 Dec 2016 00:00:00 +0530 Sat, 09 May 2026 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336361 The Court upheld the Tribunal's decision to delete penalties imposed under Section 271(1)(c) of the Income Tax Act for Assessment Years 2002-03 and 2003-04. The Tribunal found no defects in the allocation method of expenses for the unit eligible for deduction under Section 80IA, concluding that the assessee's actions did not warrant penalties for furnishing inaccurate particulars. The Court dismissed the Revenue's appeals, stating that the issue did not raise any substantial question of law, emphasizing that the expense allocation was a matter of opinion and did not signify deliberate concealment or inaccuracies in income particulars. Case-Laws Income Tax Fri, 09 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336361