https://www.taxtmi.com/caselaws?id=340307 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the expenditure in question was debatable, disclosed in the return of income, and no inaccurate particulars were furnished. Relying on legal precedents, including the case of Reliance Petroproducts (P) Ltd., the Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty. en-us Mon, 06 Feb 2017 00:00:00 +0530 Mon, 20 Mar 2017 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340307 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the expenditure in question was debatable, disclosed in the return of income, and no inaccurate particulars were furnished. Relying on legal precedents, including the case of Reliance Petroproducts (P) Ltd., the Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty. Case-Laws Income Tax Mon, 06 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340307