https://www.taxtmi.com/caselaws?id=361013 The Tribunal held that the penalty under section 271(1)(c) of the Income Tax Act was not justified for both assessment years. The issues raised were deemed debatable as indicated by the admission of the appeals by the High Court. The Tribunal emphasized that the lack of a specific charge in the penalty notices and the debatable nature of the issues warranted the deletion of penalties. Consequently, the Tribunal allowed the appeals of the assessee for both years, directing the Assessing Officer to reverse the penalties imposed by the Commissioner of Income Tax (Appeals). en-us Tue, 22 May 2018 00:00:00 +0530 Mon, 28 May 2018 08:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361013 The Tribunal held that the penalty under section 271(1)(c) of the Income Tax Act was not justified for both assessment years. The issues raised were deemed debatable as indicated by the admission of the appeals by the High Court. The Tribunal emphasized that the lack of a specific charge in the penalty notices and the debatable nature of the issues warranted the deletion of penalties. Consequently, the Tribunal allowed the appeals of the assessee for both years, directing the Assessing Officer to reverse the penalties imposed by the Commissioner of Income Tax (Appeals). Case-Laws Income Tax Tue, 22 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361013