https://www.taxtmi.com/caselaws?id=400359 The Tribunal remanded the issues back to the CIT(A) for necessary steps, allowing the appeal filed by the revenue for statistical purposes. The CIT(A) deleted the penalty under section 271(1)(c) imposed by the AO, as the disallowance of the claim towards research did not constitute furnishing inaccurate particulars. The CIT(A) also deleted the penalty levied by the AO regarding the disallowance of R&D expenditure under section 35(1)(iv) after considering fresh facts and a recognition received from the R&D Unit, Government of India. en-us Mon, 02 Nov 2020 00:00:00 +0530 Wed, 04 Nov 2020 09:20:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400359 The Tribunal remanded the issues back to the CIT(A) for necessary steps, allowing the appeal filed by the revenue for statistical purposes. The CIT(A) deleted the penalty under section 271(1)(c) imposed by the AO, as the disallowance of the claim towards research did not constitute furnishing inaccurate particulars. The CIT(A) also deleted the penalty levied by the AO regarding the disallowance of R&D expenditure under section 35(1)(iv) after considering fresh facts and a recognition received from the R&D Unit, Government of India. Case-Laws Income Tax Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400359