https://www.taxtmi.com/caselaws?id=396541 The ITAT dismissed the revenue's appeal and upheld the deletion of the penalty imposed by the Ld.AO for disallowed business expenses. The ITAT found that the penalty proceedings lacked clarity as the grounds for penalty imposition were not specified in the assessment order. Consequently, the penalty order was quashed, and both the revenue's appeal and the assessee's cross objection were dismissed as infructuous. en-us Fri, 03 Jul 2020 00:00:00 +0530 Fri, 10 Jul 2020 08:09:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396541 The ITAT dismissed the revenue's appeal and upheld the deletion of the penalty imposed by the Ld.AO for disallowed business expenses. The ITAT found that the penalty proceedings lacked clarity as the grounds for penalty imposition were not specified in the assessment order. Consequently, the penalty order was quashed, and both the revenue's appeal and the assessee's cross objection were dismissed as infructuous. Case-Laws Income Tax Fri, 03 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396541