https://www.taxtmi.com/caselaws?id=347485 The ITAT ruled in favor of the assessee, holding that the penalty under Section 271(1)(c) of the Income Tax Act was not justified as the issue was debatable and pending before the Supreme Court. The ITAT allowed the appeals, deleted the penalties, and dismissed the stay applications as infructuous. The decision was pronounced on 31/08/2017. en-us Thu, 31 Aug 2017 00:00:00 +0530 Tue, 05 Sep 2017 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347485 The ITAT ruled in favor of the assessee, holding that the penalty under Section 271(1)(c) of the Income Tax Act was not justified as the issue was debatable and pending before the Supreme Court. The ITAT allowed the appeals, deleted the penalties, and dismissed the stay applications as infructuous. The decision was pronounced on 31/08/2017. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347485