https://www.taxtmi.com/caselaws?id=367230 The Tribunal held that the penalty imposed on disallowance of expenditure for website upgradation and addition of expenditure for fee paid to Registrar of Companies and stamp duty for increase in authorized capital was not justified. The Tribunal found that the appellant had made bona fide claims, and there was no evidence of concealment or furnishing inaccurate particulars of income. Therefore, the penalty under section 271(1)(c) was deemed unsustainable. The appeal was allowed, and the penalty was ordered to be deleted. en-us Fri, 14 Sep 2018 00:00:00 +0530 Mon, 17 Sep 2018 07:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367230 The Tribunal held that the penalty imposed on disallowance of expenditure for website upgradation and addition of expenditure for fee paid to Registrar of Companies and stamp duty for increase in authorized capital was not justified. The Tribunal found that the appellant had made bona fide claims, and there was no evidence of concealment or furnishing inaccurate particulars of income. Therefore, the penalty under section 271(1)(c) was deemed unsustainable. The appeal was allowed, and the penalty was ordered to be deleted. Case-Laws Income Tax Fri, 14 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367230