https://www.taxtmi.com/caselaws?id=421344 The Tribunal ruled in favor of the assessee, holding that the disallowance of commission expenses did not justify the imposition of a penalty under section 271(1)(c) of the Income Tax Act for Assessment Year 2004-05. The Tribunal emphasized that the failure to prove services rendered by the commission recipient was not sufficient grounds for the penalty, citing the Supreme Court's decision in CIT vs. Reliance Petroproducts (P) Ltd. The Tribunal highlighted that the penalty proceedings required separate consideration from the quantum assessment of expenses, ultimately allowing the appeal of the assessee. en-us Tue, 29 Mar 2022 00:00:00 +0530 Fri, 22 Apr 2022 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421344 The Tribunal ruled in favor of the assessee, holding that the disallowance of commission expenses did not justify the imposition of a penalty under section 271(1)(c) of the Income Tax Act for Assessment Year 2004-05. The Tribunal emphasized that the failure to prove services rendered by the commission recipient was not sufficient grounds for the penalty, citing the Supreme Court's decision in CIT vs. Reliance Petroproducts (P) Ltd. The Tribunal highlighted that the penalty proceedings required separate consideration from the quantum assessment of expenses, ultimately allowing the appeal of the assessee. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421344