https://www.taxtmi.com/caselaws?id=356448 The Tribunal dismissed the appeal challenging the deletion of a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The dispute centered on the treatment of provisions for sales tax refund in income computation. The Tribunal found the Respondent's approach of recognizing sales tax refunds as income only upon the refund order to be reasonable and consistent with past practices. Since there were differing interpretations and no clear legal directive on the matter, the Tribunal deemed the issue debatable and not warranting a penalty. The appeal was dismissed with no costs awarded. en-us Tue, 20 Feb 2018 00:00:00 +0530 Tue, 06 Mar 2018 06:34:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356448 The Tribunal dismissed the appeal challenging the deletion of a penalty under Section 271(1)(c) of the Income Tax Act, 1961. The dispute centered on the treatment of provisions for sales tax refund in income computation. The Tribunal found the Respondent's approach of recognizing sales tax refunds as income only upon the refund order to be reasonable and consistent with past practices. Since there were differing interpretations and no clear legal directive on the matter, the Tribunal deemed the issue debatable and not warranting a penalty. The appeal was dismissed with no costs awarded. Case-Laws Income Tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356448