https://www.taxtmi.com/caselaws?id=388145 The Tribunal allowed the appeal, ruling that the penalty under section 271(1)(c) of the IT Act for AY 2014-15 was unjustified. The surrender of income by the company was deemed reasonable and bonafide, supported by genuine commission payments with proper documentation. As no incriminating material was found during the survey, the penalty was deleted based on the genuineness of the claim and the absence of justification for the penalty. en-us Tue, 22 Oct 2019 00:00:00 +0530 Fri, 08 Nov 2019 10:29:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388145 The Tribunal allowed the appeal, ruling that the penalty under section 271(1)(c) of the IT Act for AY 2014-15 was unjustified. The surrender of income by the company was deemed reasonable and bonafide, supported by genuine commission payments with proper documentation. As no incriminating material was found during the survey, the penalty was deleted based on the genuineness of the claim and the absence of justification for the penalty. Case-Laws Income Tax Tue, 22 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388145