https://www.taxtmi.com/caselaws?id=379614 The Tribunal set aside the Commissioner of Income Tax (Appeals) decision and directed the Assessing Officer to delete the penalty imposed on the disallowance of estimated interest expenditure. The appeal of the assessee was allowed, emphasizing the absence of contumacious or dishonest conduct warranting the penalty under section 271(1)(c) of the Income Tax Act for AY 2002-03. en-us Fri, 03 May 2019 00:00:00 +0530 Mon, 06 May 2019 05:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379614 The Tribunal set aside the Commissioner of Income Tax (Appeals) decision and directed the Assessing Officer to delete the penalty imposed on the disallowance of estimated interest expenditure. The appeal of the assessee was allowed, emphasizing the absence of contumacious or dishonest conduct warranting the penalty under section 271(1)(c) of the Income Tax Act for AY 2002-03. Case-Laws Income Tax Fri, 03 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379614