https://www.taxtmi.com/caselaws?id=386663 The Tribunal ruled in favor of the appellant, setting aside the penalty orders for the assessment years 2007-08 & 2008-09 under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal held that penalties cannot be imposed on debatable issues, especially when substantial questions of law are framed by the High Court. It concluded that the penalties for concealment or furnishing inaccurate particulars of income were not justified in this case, citing precedents. en-us Tue, 01 Oct 2019 00:00:00 +0530 Fri, 04 Oct 2019 11:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386663 The Tribunal ruled in favor of the appellant, setting aside the penalty orders for the assessment years 2007-08 & 2008-09 under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal held that penalties cannot be imposed on debatable issues, especially when substantial questions of law are framed by the High Court. It concluded that the penalties for concealment or furnishing inaccurate particulars of income were not justified in this case, citing precedents. Case-Laws Income Tax Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386663