https://www.taxtmi.com/caselaws?id=13581 The penalty of Rs. 4,58,393 imposed on the assessee under section 271(1)(c) of the Income-tax Act, 1961 was set aside by the Income-tax Appellate Tribunal, Delhi Bench "C". The dispute arose over a deduction claim of Rs. 10,66,029 as format fee, which the Assessing Officer disallowed. The assessee had withdrawn the claim in time and offered the amount for tax, leading to the High Court dismissing the appeal and upholding the Tribunal's decision. en-us Thu, 20 Jul 2006 00:00:00 +0530 Fri, 29 May 2009 18:27:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13581 The penalty of Rs. 4,58,393 imposed on the assessee under section 271(1)(c) of the Income-tax Act, 1961 was set aside by the Income-tax Appellate Tribunal, Delhi Bench "C". The dispute arose over a deduction claim of Rs. 10,66,029 as format fee, which the Assessing Officer disallowed. The assessee had withdrawn the claim in time and offered the amount for tax, leading to the High Court dismissing the appeal and upholding the Tribunal's decision. Case-Laws Income Tax Thu, 20 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13581