https://www.taxtmi.com/caselaws?id=381219 The Appellate Tribunal ITAT Mumbai allowed the appeal against the penalty imposed under section 271(1)(c) of the income tax act for the assessment year 2006-07. The Tribunal found that the assessee's conduct was not contumacious regarding the disputed depreciation claim and the application of MAT provisions. Relying on the precedent in Hindustan Steel vs. State of Orissa, the Tribunal annulled the penalty, emphasizing that penal provisions were not warranted in this case. en-us Mon, 03 Jun 2019 00:00:00 +0530 Wed, 05 Jun 2019 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381219 The Appellate Tribunal ITAT Mumbai allowed the appeal against the penalty imposed under section 271(1)(c) of the income tax act for the assessment year 2006-07. The Tribunal found that the assessee's conduct was not contumacious regarding the disputed depreciation claim and the application of MAT provisions. Relying on the precedent in Hindustan Steel vs. State of Orissa, the Tribunal annulled the penalty, emphasizing that penal provisions were not warranted in this case. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381219