https://www.taxtmi.com/caselaws?id=289692 The High Court upheld the decision of the Tribunal in dismissing the Tax Appeal challenging the deletion of penalty under section 271(1)(c) of the Income Tax Act. The Tribunal and High Court emphasized that a wrong or excessive claim by the assessee, without sustainable grounds, does not justify imposing a penalty. The decision aligned with legal precedents, including the Supreme Court ruling in Commissioner of Income Tax v. Reliance Petroproducts Private Limited. The Court found no fault in the Tribunal's reasoning and concluded that no substantial question of law arose, leading to the dismissal of the appeal. en-us Tue, 18 Oct 2011 00:00:00 +0530 Fri, 14 Aug 2020 16:57:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289692 The High Court upheld the decision of the Tribunal in dismissing the Tax Appeal challenging the deletion of penalty under section 271(1)(c) of the Income Tax Act. The Tribunal and High Court emphasized that a wrong or excessive claim by the assessee, without sustainable grounds, does not justify imposing a penalty. The decision aligned with legal precedents, including the Supreme Court ruling in Commissioner of Income Tax v. Reliance Petroproducts Private Limited. The Court found no fault in the Tribunal's reasoning and concluded that no substantial question of law arose, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 18 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289692