https://www.taxtmi.com/caselaws?id=357639 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The penalty was initially levied by the Assessing Officer for a claim of leave encashment allowable in a different assessment year. The Tribunal ruled that genuine expenses, even if disallowed due to a timing dispute, do not warrant a penalty under section 271(1)(c). The appeal by the revenue was dismissed, confirming the deletion of the penalty. en-us Wed, 21 Mar 2018 00:00:00 +0530 Tue, 27 Mar 2018 09:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357639 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The penalty was initially levied by the Assessing Officer for a claim of leave encashment allowable in a different assessment year. The Tribunal ruled that genuine expenses, even if disallowed due to a timing dispute, do not warrant a penalty under section 271(1)(c). The appeal by the revenue was dismissed, confirming the deletion of the penalty. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357639