https://www.taxtmi.com/caselaws?id=404519 The Tribunal allowed the appeal, deleting penalties imposed for disallowance of 'legal and professional' expenses and building repair expenses. The decision stressed the assessee's right to present additional evidence during penalty proceedings, leading to the penalties being removed as the genuineness of the expenditures was established, and no inaccurate particulars were provided. The Tribunal differentiated between assessment and penalty proceedings, underscoring the assessee's opportunity to substantiate claims during penalty proceedings. en-us Fri, 05 Feb 2021 00:00:00 +0530 Thu, 25 Feb 2021 09:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404519 The Tribunal allowed the appeal, deleting penalties imposed for disallowance of 'legal and professional' expenses and building repair expenses. The decision stressed the assessee's right to present additional evidence during penalty proceedings, leading to the penalties being removed as the genuineness of the expenditures was established, and no inaccurate particulars were provided. The Tribunal differentiated between assessment and penalty proceedings, underscoring the assessee's opportunity to substantiate claims during penalty proceedings. Case-Laws Income Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404519