https://www.taxtmi.com/caselaws?id=293753 The ITAT upheld the decision of the ld. Commissioner of Income Tax (Appeals) to delete the penalty imposed under section 271(1)(c) for disallowance of provision for excise duty payable. It was held that the disallowance under section 43B is a legal issue and does not warrant a penalty. The ITAT emphasized that the assessee disclosed all necessary particulars, ruling out any concealment of income or furnishing of inaccurate particulars. The appeal was dismissed, citing case law precedent that a disallowed claim does not automatically lead to a penalty under the mentioned section. en-us Mon, 30 Jul 2018 00:00:00 +0530 Sun, 28 Feb 2021 09:35:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293753 The ITAT upheld the decision of the ld. Commissioner of Income Tax (Appeals) to delete the penalty imposed under section 271(1)(c) for disallowance of provision for excise duty payable. It was held that the disallowance under section 43B is a legal issue and does not warrant a penalty. The ITAT emphasized that the assessee disclosed all necessary particulars, ruling out any concealment of income or furnishing of inaccurate particulars. The appeal was dismissed, citing case law precedent that a disallowed claim does not automatically lead to a penalty under the mentioned section. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293753