https://www.taxtmi.com/caselaws?id=374890 The Tribunal allowed the appeal of the assessee for the assessment year 2006-07, overturning the penalties imposed by the Assessing Officer under section 271(1)(c) of the Income-tax Act, 1961. The penalties were deleted as the Tribunal found the explanations provided by the assessee regarding the depreciation claims on office premises and fixed assets to be bona fide and in compliance with the relevant provisions of the Act. en-us Wed, 06 Feb 2019 00:00:00 +0530 Tue, 12 Feb 2019 07:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374890 The Tribunal allowed the appeal of the assessee for the assessment year 2006-07, overturning the penalties imposed by the Assessing Officer under section 271(1)(c) of the Income-tax Act, 1961. The penalties were deleted as the Tribunal found the explanations provided by the assessee regarding the depreciation claims on office premises and fixed assets to be bona fide and in compliance with the relevant provisions of the Act. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374890