https://www.taxtmi.com/caselaws?id=190692 The Tribunal dismissed the Revenue's appeal against the deletion of a penalty imposed under section 271(1)(c) of the Act for the assessment year 2007-2008. The penalty was deleted based on the assessee's proper disclosure of reimbursements and the possible non-taxability of the charges. The Tribunal emphasized that the mere acceptance of an addition does not automatically warrant a penalty, and upheld the decision to delete the penalty by the CIT(A). en-us Tue, 31 Jul 2012 00:00:00 +0530 Wed, 22 Feb 2017 16:24:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190692 The Tribunal dismissed the Revenue's appeal against the deletion of a penalty imposed under section 271(1)(c) of the Act for the assessment year 2007-2008. The penalty was deleted based on the assessee's proper disclosure of reimbursements and the possible non-taxability of the charges. The Tribunal emphasized that the mere acceptance of an addition does not automatically warrant a penalty, and upheld the decision to delete the penalty by the CIT(A). Case-Laws Income Tax Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190692