https://www.taxtmi.com/caselaws?id=372821 The ITAT upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act 1961 for the assessment year 2012-13. The ITAT emphasized that the mere disallowance of a claim does not automatically lead to a penalty, following the principles outlined in the Supreme Court decision in Reliance Petroproducts (P.) Ltd. Consequently, the appeal by the Revenue was dismissed, affirming the deletion of the penalty by the CIT(A). en-us Thu, 27 Dec 2018 00:00:00 +0530 Mon, 31 Dec 2018 07:35:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372821 The ITAT upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act 1961 for the assessment year 2012-13. The ITAT emphasized that the mere disallowance of a claim does not automatically lead to a penalty, following the principles outlined in the Supreme Court decision in Reliance Petroproducts (P.) Ltd. Consequently, the appeal by the Revenue was dismissed, affirming the deletion of the penalty by the CIT(A). Case-Laws Income Tax Thu, 27 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372821