https://www.taxtmi.com/caselaws?id=381856 The Tax Appeal was filed against a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The case involved interpretation of "charitable purpose" under Section 2(15) and entitlement to benefits under Sections 11 and 12. The Tribunal's decision, supported by the High Court, led to deletion of additions and cancellation of the penalty. Despite the Revenue's argument regarding the High Court's decision being under challenge, the Supreme Court upheld the Tribunal's decision, emphasizing that since the quantum addition was deleted, the penalty would not stand. The appeal was dismissed, affirming the entitlement to benefits and impact of the High Court's decision on penalties. en-us Mon, 17 Jun 2019 00:00:00 +0530 Thu, 20 Jun 2019 09:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381856 The Tax Appeal was filed against a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The case involved interpretation of "charitable purpose" under Section 2(15) and entitlement to benefits under Sections 11 and 12. The Tribunal's decision, supported by the High Court, led to deletion of additions and cancellation of the penalty. Despite the Revenue's argument regarding the High Court's decision being under challenge, the Supreme Court upheld the Tribunal's decision, emphasizing that since the quantum addition was deleted, the penalty would not stand. The appeal was dismissed, affirming the entitlement to benefits and impact of the High Court's decision on penalties. Case-Laws Income Tax Mon, 17 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381856