https://www.taxtmi.com/caselaws?id=191986 The Tribunal dismissed the Revenue's appeal against the deletion of the penalty under section 271(1)(c) of the Income Tax Act for Assessment Year 2005-06. The Tribunal upheld the denial of the claim for deduction based on legal principles, following the decision in the case of Reliance Petro Products. The penalty was not imposed due to the denial of the claim for deduction on the purchase of motor vehicles, as it did not qualify for benefits under the Act. en-us Tue, 14 Jun 2016 00:00:00 +0530 Mon, 08 May 2017 10:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191986 The Tribunal dismissed the Revenue's appeal against the deletion of the penalty under section 271(1)(c) of the Income Tax Act for Assessment Year 2005-06. The Tribunal upheld the denial of the claim for deduction based on legal principles, following the decision in the case of Reliance Petro Products. The penalty was not imposed due to the denial of the claim for deduction on the purchase of motor vehicles, as it did not qualify for benefits under the Act. Case-Laws Income Tax Tue, 14 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191986