https://www.taxtmi.com/caselaws?id=381790 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found the issue debatable and concluded that the assessee had disclosed all relevant facts, thus negating the basis for penalty imposition. Additionally, the Tribunal emphasized the importance of the CIT(A) providing elementary reasons in its order, despite ultimately agreeing with the decision. en-us Mon, 17 Jun 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381790 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Tribunal found the issue debatable and concluded that the assessee had disclosed all relevant facts, thus negating the basis for penalty imposition. Additionally, the Tribunal emphasized the importance of the CIT(A) providing elementary reasons in its order, despite ultimately agreeing with the decision. Case-Laws Income Tax Mon, 17 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381790