https://www.taxtmi.com/caselaws?id=368521 The penalty under Section 271(1)(c) was upheld for claiming a non-eligible deduction for provision of doubtful debts and penalty expenses. However, penalties were deleted for other issues such as foreign exchange fluctuation loss, deemed dividend under Section 2(22)(e), deduction under Section 80G, transfer pricing addition, prior period income, miscellaneous expenses written off, depreciation on electrical installation, disallowance under Section 14A, Section 40(a)(i), and Section 10B. The appeal of the assessee was partly allowed for statistical purposes, while the appeal of the Revenue was dismissed. en-us Wed, 26 Sep 2018 00:00:00 +0530 Wed, 10 Oct 2018 09:08:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368521 The penalty under Section 271(1)(c) was upheld for claiming a non-eligible deduction for provision of doubtful debts and penalty expenses. However, penalties were deleted for other issues such as foreign exchange fluctuation loss, deemed dividend under Section 2(22)(e), deduction under Section 80G, transfer pricing addition, prior period income, miscellaneous expenses written off, depreciation on electrical installation, disallowance under Section 14A, Section 40(a)(i), and Section 10B. The appeal of the assessee was partly allowed for statistical purposes, while the appeal of the Revenue was dismissed. Case-Laws Income Tax Wed, 26 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368521