https://www.taxtmi.com/caselaws?id=371277 The appeal involved cross appeals regarding the imposition of penalties under section 271(1)(c) of the Income Tax Act for the assessment year 2009-10. The Tribunal deleted penalties on major additions, including foreign exchange fluctuation loss, indicating no tax evasion. The assessee's appeal was allowed, penalties were deleted, and the revenue's appeal was dismissed. The order was pronounced on September 7, 2018. en-us Fri, 07 Sep 2018 00:00:00 +0530 Fri, 30 Nov 2018 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371277 The appeal involved cross appeals regarding the imposition of penalties under section 271(1)(c) of the Income Tax Act for the assessment year 2009-10. The Tribunal deleted penalties on major additions, including foreign exchange fluctuation loss, indicating no tax evasion. The assessee's appeal was allowed, penalties were deleted, and the revenue's appeal was dismissed. The order was pronounced on September 7, 2018. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371277