https://www.taxtmi.com/caselaws?id=375161 The Tribunal allowed the Assessee's appeal, canceling the penalty imposed under Section 271(1)(c) for Assessment Year 2006-07. The penalty was deemed unjustified as the Assessee succeeded in the appellate proceedings regarding disallowance under Section 80IB(10) and the addition under Section 115JB was found to be disputable with two legitimate views, one favoring the Assessee. Therefore, the Tribunal held that penalizing the Assessee for adopting a view in their favor on a disputable issue was not warranted under Section 271(1)(c). en-us Thu, 07 Feb 2019 00:00:00 +0530 Fri, 15 Feb 2019 08:08:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375161 The Tribunal allowed the Assessee's appeal, canceling the penalty imposed under Section 271(1)(c) for Assessment Year 2006-07. The penalty was deemed unjustified as the Assessee succeeded in the appellate proceedings regarding disallowance under Section 80IB(10) and the addition under Section 115JB was found to be disputable with two legitimate views, one favoring the Assessee. Therefore, the Tribunal held that penalizing the Assessee for adopting a view in their favor on a disputable issue was not warranted under Section 271(1)(c). Case-Laws Income Tax Thu, 07 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375161