https://www.taxtmi.com/caselaws?id=344219 The Appellate Tribunal dismissed the Revenue's appeal and canceled the penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that since the income was charged under Minimum Alternate Tax provisions, imposing a penalty for additions made under normal provisions was not justified. This decision aligns with the clarification by the CBDT and is supported by the Delhi High Court's ruling in a similar case, upheld by the Supreme Court. en-us Wed, 07 Jun 2017 00:00:00 +0530 Mon, 12 Jun 2017 08:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344219 The Appellate Tribunal dismissed the Revenue's appeal and canceled the penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that since the income was charged under Minimum Alternate Tax provisions, imposing a penalty for additions made under normal provisions was not justified. This decision aligns with the clarification by the CBDT and is supported by the Delhi High Court's ruling in a similar case, upheld by the Supreme Court. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344219