https://www.taxtmi.com/caselaws?id=380542 The Appellate Tribunal ITAT Delhi ruled in favor of the assessee, setting aside the penalty imposed under section 271(1)(C) of the Income Tax Act. The Tribunal found that the penalty was not justified for the motor car expenses and depreciation, as well as for the ad-hoc disallowance of business promotion expenses. The decision was based on the principle that mere disallowance of a claim does not automatically warrant a penalty. The appeal was allowed on 21st May 2019. en-us Tue, 21 May 2019 00:00:00 +0530 Thu, 23 May 2019 08:25:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380542 The Appellate Tribunal ITAT Delhi ruled in favor of the assessee, setting aside the penalty imposed under section 271(1)(C) of the Income Tax Act. The Tribunal found that the penalty was not justified for the motor car expenses and depreciation, as well as for the ad-hoc disallowance of business promotion expenses. The decision was based on the principle that mere disallowance of a claim does not automatically warrant a penalty. The appeal was allowed on 21st May 2019. Case-Laws Income Tax Tue, 21 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380542