https://www.taxtmi.com/caselaws?id=339425 The ITAT Mumbai ruled in favor of the Assessee, holding that the disallowed transportation charges were legitimate business expenses under section 37(1) of the Income Tax Act. The tribunal emphasized that penalty proceedings should be assessed independently, finding the penalty unjustified and contrary to the Act's principles. Consequently, the ITAT directed the AO to delete the penalty imposed under section 271(1)(c) for the assessment year 2002-03. en-us Fri, 17 Feb 2017 00:00:00 +0530 Mon, 27 Feb 2017 10:56:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339425 The ITAT Mumbai ruled in favor of the Assessee, holding that the disallowed transportation charges were legitimate business expenses under section 37(1) of the Income Tax Act. The tribunal emphasized that penalty proceedings should be assessed independently, finding the penalty unjustified and contrary to the Act's principles. Consequently, the ITAT directed the AO to delete the penalty imposed under section 271(1)(c) for the assessment year 2002-03. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339425