https://www.taxtmi.com/caselaws?id=199632 The High Court upheld the ITAT's decision to delete the penalty imposed on the Assessee under Section 271(1)(c) of the Income Tax Act. The Court found that the Assessee had not concealed material particulars warranting a penalty, as the amount claimed as 'Administrative Expenses' was supported by evidence and disclosure in the income computation. The Court deemed the ITAT's decision reasonable and dismissed the Revenue's appeal, stating that no substantial question of law arose from the case. en-us Tue, 22 Aug 2017 00:00:00 +0530 Thu, 08 Mar 2018 06:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199632 The High Court upheld the ITAT's decision to delete the penalty imposed on the Assessee under Section 271(1)(c) of the Income Tax Act. The Court found that the Assessee had not concealed material particulars warranting a penalty, as the amount claimed as 'Administrative Expenses' was supported by evidence and disclosure in the income computation. The Court deemed the ITAT's decision reasonable and dismissed the Revenue's appeal, stating that no substantial question of law arose from the case. Case-Laws Income Tax Tue, 22 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199632