https://www.taxtmi.com/caselaws?id=193454 The High Court admitted the appeal due to the debatability of the issue surrounding the taxability of a receipt. Despite the penalty imposed by the Assessing Officer under section 271(1)(c), the Tribunal found the case unsuitable for penalty imposition. Emphasizing the lack of clarity on the nature of the receipt and the absence of default in disclosing information, the Tribunal upheld the deletion of the penalty, dismissing the Revenue's appeal. en-us Fri, 12 Jun 2015 00:00:00 +0530 Mon, 31 Jul 2017 08:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193454 The High Court admitted the appeal due to the debatability of the issue surrounding the taxability of a receipt. Despite the penalty imposed by the Assessing Officer under section 271(1)(c), the Tribunal found the case unsuitable for penalty imposition. Emphasizing the lack of clarity on the nature of the receipt and the absence of default in disclosing information, the Tribunal upheld the deletion of the penalty, dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 12 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193454