https://www.taxtmi.com/caselaws?id=386767 The Appellate Tribunal upheld the decision of the CIT(A) to delete the penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act for Assessment Year 2007-08. The Tribunal agreed that the nature of the expenditure was debatable, and the assessee had demonstrated bonafide in claiming it as revenue expenditure. The Tribunal found no error in the CIT(A)'s order and dismissed the Revenue's appeal. en-us Fri, 04 Oct 2019 00:00:00 +0530 Mon, 07 Oct 2019 22:16:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386767 The Appellate Tribunal upheld the decision of the CIT(A) to delete the penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act for Assessment Year 2007-08. The Tribunal agreed that the nature of the expenditure was debatable, and the assessee had demonstrated bonafide in claiming it as revenue expenditure. The Tribunal found no error in the CIT(A)'s order and dismissed the Revenue's appeal. Case-Laws Income Tax Fri, 04 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386767