https://www.taxtmi.com/caselaws?id=191498 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under section 271(1)(c) for disallowed items, including notional expenses and interest income, following prior decisions. Penalties were deemed unsustainable for disallowances, leading to the dismissal of all Revenue's appeals. en-us Thu, 11 Jun 2015 00:00:00 +0530 Thu, 06 Apr 2017 10:02:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191498 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under section 271(1)(c) for disallowed items, including notional expenses and interest income, following prior decisions. Penalties were deemed unsustainable for disallowances, leading to the dismissal of all Revenue's appeals. Case-Laws Income Tax Thu, 11 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191498