https://www.taxtmi.com/caselaws?id=361025 The Tribunal held that the penalty levied under section 271(1)(c) for A.Y. 2008-09 was unsustainable due to ambiguity in the application of the relevant clause. The penalty of Rs. 5,65,685 was upheld, and the appeal of the assessee was allowed. The Cross Objection related to ITA No.949/PUN/2016 was dismissed as academic. In the matter of additions and disallowances for A.Y. 2010-11, the Revenue's appeal was dismissed, and the assessee's appeal was partly allowed for statistical purposes. The order was pronounced on May 23, 2018. en-us Wed, 23 May 2018 00:00:00 +0530 Mon, 28 May 2018 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361025 The Tribunal held that the penalty levied under section 271(1)(c) for A.Y. 2008-09 was unsustainable due to ambiguity in the application of the relevant clause. The penalty of Rs. 5,65,685 was upheld, and the appeal of the assessee was allowed. The Cross Objection related to ITA No.949/PUN/2016 was dismissed as academic. In the matter of additions and disallowances for A.Y. 2010-11, the Revenue's appeal was dismissed, and the assessee's appeal was partly allowed for statistical purposes. The order was pronounced on May 23, 2018. Case-Laws Income Tax Wed, 23 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361025