https://www.taxtmi.com/caselaws?id=291678 The HC dismissed the Revenue's appeal against the ITAT's deletion of penalty under Section 271(1)(c) of the Income Tax Act. The HC determined that the issue was debatable, with the Assessee's claim for exemption under Section 54F being bona fide. The mere admission of an appeal does not justify penalty deletion. en-us Tue, 19 Mar 2019 00:00:00 +0530 Wed, 13 Nov 2024 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291678 The HC dismissed the Revenue's appeal against the ITAT's deletion of penalty under Section 271(1)(c) of the Income Tax Act. The HC determined that the issue was debatable, with the Assessee's claim for exemption under Section 54F being bona fide. The mere admission of an appeal does not justify penalty deletion. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291678