https://www.taxtmi.com/caselaws?id=377520 The Tribunal dismissed the revenue's appeals against penalty orders under section 271(1)(c) of the Income Tax Act, 1961. The decision favored the assessee on issues related to the characterization of revenue from embedded software, taxability of income from software supply, and deletion of penalties by the Commissioner of Income Tax (Appeals). Emphasizing the principle that penalties cannot be imposed when two views are possible on tax matters, the Tribunal upheld previous decisions in favor of the assessee. The judgment highlighted the importance of consistency in tax treatment and considering multiple views before penalizing taxpayers. en-us Mon, 25 Mar 2019 00:00:00 +0530 Fri, 29 Mar 2019 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377520 The Tribunal dismissed the revenue's appeals against penalty orders under section 271(1)(c) of the Income Tax Act, 1961. The decision favored the assessee on issues related to the characterization of revenue from embedded software, taxability of income from software supply, and deletion of penalties by the Commissioner of Income Tax (Appeals). Emphasizing the principle that penalties cannot be imposed when two views are possible on tax matters, the Tribunal upheld previous decisions in favor of the assessee. The judgment highlighted the importance of consistency in tax treatment and considering multiple views before penalizing taxpayers. Case-Laws Income Tax Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377520