https://www.taxtmi.com/caselaws?id=283806 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, confirming the disallowed deductions for rental income and interest on a housing loan were invalid due to the property purchase timeline. The challenge on the penalty section specification in the notice was rejected, and the appeals were dismissed, affirming the penalty imposed by the lower authorities. The Tribunal's decision was grounded on factual findings and legal precedents, leading to the rejection of the assessee's appeals. en-us Fri, 09 Aug 2019 00:00:00 +0530 Mon, 14 Oct 2019 09:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283806 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, confirming the disallowed deductions for rental income and interest on a housing loan were invalid due to the property purchase timeline. The challenge on the penalty section specification in the notice was rejected, and the appeals were dismissed, affirming the penalty imposed by the lower authorities. The Tribunal's decision was grounded on factual findings and legal precedents, leading to the rejection of the assessee's appeals. Case-Laws Income Tax Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283806