https://www.taxtmi.com/caselaws?id=281270 The Tribunal allowed the appeal of the assessee-company, ruling to delete the imposed penalty under sec. 271(1)(c) of the Income Tax Act, 1961. The company had disclosed all material facts, genuinely believed the expenses were allowable, and the Assessing Officer had not proven the claim to be false, leading to the deletion of the penalty. en-us Wed, 12 Dec 2012 00:00:00 +0530 Tue, 11 Jun 2019 13:26:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281270 The Tribunal allowed the appeal of the assessee-company, ruling to delete the imposed penalty under sec. 271(1)(c) of the Income Tax Act, 1961. The company had disclosed all material facts, genuinely believed the expenses were allowable, and the Assessing Officer had not proven the claim to be false, leading to the deletion of the penalty. Case-Laws Income Tax Wed, 12 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281270