https://www.taxtmi.com/caselaws?id=350501 The Tribunal allowed the assessee's appeals, directing the deletion of the addition of prior period expenses in the assessment under section 143(3) r.w.s. 153A, as it lacked incriminating material. The Tribunal admitted the Additional Ground of appeal and upheld relief granted by the CIT(A) on the disallowance under section 37(1) of the Act. Regarding the penalty under section 271(1)(c), the Tribunal ruled in favor of the assessee, setting aside the penalty on the disallowance of cost of production due to the unsustainable nature of the addition. en-us Tue, 31 Oct 2017 00:00:00 +0530 Tue, 07 Nov 2017 06:48:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350501 The Tribunal allowed the assessee's appeals, directing the deletion of the addition of prior period expenses in the assessment under section 143(3) r.w.s. 153A, as it lacked incriminating material. The Tribunal admitted the Additional Ground of appeal and upheld relief granted by the CIT(A) on the disallowance under section 37(1) of the Act. Regarding the penalty under section 271(1)(c), the Tribunal ruled in favor of the assessee, setting aside the penalty on the disallowance of cost of production due to the unsustainable nature of the addition. Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350501