https://www.taxtmi.com/caselaws?id=362572 The High Court upheld the Tribunal's decision to set aside penalties under Section 271(1)(c) of the Income Tax Act for excessive deduction claimed under Section 10B and additions made in income due to alleged excess stock. The Court found no substantial question of law in the Revenue's appeal, leading to its dismissal without costs. The Tribunal's findings were supported by judicial precedents, emphasizing the lack of necessary findings in the penalty order, ultimately resulting in the penalties being quashed. en-us Thu, 21 Jun 2018 00:00:00 +0530 Sat, 13 Apr 2019 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362572 The High Court upheld the Tribunal's decision to set aside penalties under Section 271(1)(c) of the Income Tax Act for excessive deduction claimed under Section 10B and additions made in income due to alleged excess stock. The Court found no substantial question of law in the Revenue's appeal, leading to its dismissal without costs. The Tribunal's findings were supported by judicial precedents, emphasizing the lack of necessary findings in the penalty order, ultimately resulting in the penalties being quashed. Case-Laws Income Tax Thu, 21 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362572