https://www.taxtmi.com/caselaws?id=398550 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed by the Assessing Officer, relating to various sections for Assessment Year 1997-98. The penalties were deemed unsustainable due to deletions or re-examinations of underlying disallowances/additions by the Tribunal, rendering the penalties unjustifiable in law. The appeal by the revenue, challenging the deletion of penalties on issues such as depreciation, deduction u/s 80M, premium on debentures, increase in share capital, and expenses u/s 35D, was dismissed on 16th September 2020. en-us Wed, 16 Sep 2020 00:00:00 +0530 Fri, 18 Sep 2020 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398550 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed by the Assessing Officer, relating to various sections for Assessment Year 1997-98. The penalties were deemed unsustainable due to deletions or re-examinations of underlying disallowances/additions by the Tribunal, rendering the penalties unjustifiable in law. The appeal by the revenue, challenging the deletion of penalties on issues such as depreciation, deduction u/s 80M, premium on debentures, increase in share capital, and expenses u/s 35D, was dismissed on 16th September 2020. Case-Laws Income Tax Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398550