https://www.taxtmi.com/caselaws?id=193639 The High Court upheld the Tribunal's decision to cancel the penalty under section 271(1)(c) for an excess depreciation claim. The Court found that the issue of depreciation claim was debatable, and the penalty was not applicable when a substantial question of law was admitted by the High Court. The Court concurred with the Tribunal's analysis, emphasizing that the assessee had disclosed all material facts regarding the depreciation claim. Consequently, the appeal was dismissed, and the penalty was not levied in this case. en-us Wed, 10 May 2017 00:00:00 +0530 Thu, 10 Aug 2017 06:37:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193639 The High Court upheld the Tribunal's decision to cancel the penalty under section 271(1)(c) for an excess depreciation claim. The Court found that the issue of depreciation claim was debatable, and the penalty was not applicable when a substantial question of law was admitted by the High Court. The Court concurred with the Tribunal's analysis, emphasizing that the assessee had disclosed all material facts regarding the depreciation claim. Consequently, the appeal was dismissed, and the penalty was not levied in this case. Case-Laws Income Tax Wed, 10 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193639