https://www.taxtmi.com/caselaws?id=377607 The Tribunal dismissed the Revenue's appeal against the deletion of penalty under s. 271(1)(c) of the Income Tax Act, 1961 related to foreign travel expenses for assessment year 2000-01. The Tribunal found the penalty on disallowance of foreign travel expenses unsustainable based on judicial precedents, including Reliance Petroproducts. The appeal was also deemed not maintainable due to low tax effect as per CBDT Circular No.3 of 2018. Consequently, both the Revenue's appeal and the assessee's cross objection were dismissed. en-us Thu, 28 Mar 2019 00:00:00 +0530 Mon, 01 Apr 2019 09:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377607 The Tribunal dismissed the Revenue's appeal against the deletion of penalty under s. 271(1)(c) of the Income Tax Act, 1961 related to foreign travel expenses for assessment year 2000-01. The Tribunal found the penalty on disallowance of foreign travel expenses unsustainable based on judicial precedents, including Reliance Petroproducts. The appeal was also deemed not maintainable due to low tax effect as per CBDT Circular No.3 of 2018. Consequently, both the Revenue's appeal and the assessee's cross objection were dismissed. Case-Laws Income Tax Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377607