https://www.taxtmi.com/caselaws?id=199733 The tribunal dismissed the departmental appeal and allowed the assessee's cross-objection, setting aside the part of the CIT(A)'s order that sustained the penalty. Penalties for disallowance of interest, web/software development expenses, reallocation of expenses, and carry forward of depreciation loss were not warranted. However, the penalty for the excess deduction claimed under Section 80IC was upheld due to the discrepancy with the auditor's certification. en-us Tue, 19 May 2015 00:00:00 +0530 Fri, 09 Mar 2018 22:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199733 The tribunal dismissed the departmental appeal and allowed the assessee's cross-objection, setting aside the part of the CIT(A)'s order that sustained the penalty. Penalties for disallowance of interest, web/software development expenses, reallocation of expenses, and carry forward of depreciation loss were not warranted. However, the penalty for the excess deduction claimed under Section 80IC was upheld due to the discrepancy with the auditor's certification. Case-Laws Income Tax Tue, 19 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199733