https://www.taxtmi.com/caselaws?id=301874 The Tribunal dismissed the revenue's appeal, canceled penalties under section 271(1)(c) for excess depreciation claimed, upheld the deletion of penalty for an excess claim of deduction under section 80-IB, and dismissed the cross objection regarding penalty for deduction claimed under section 80-IA. The cancellation of penalties was based on specific circumstances and legal precedents cited in each case, with the Tribunal granting the department the option to re-initiate penalties if required during assessment. en-us Thu, 19 Jan 2012 00:00:00 +0530 Mon, 25 Apr 2022 11:04:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301874 The Tribunal dismissed the revenue's appeal, canceled penalties under section 271(1)(c) for excess depreciation claimed, upheld the deletion of penalty for an excess claim of deduction under section 80-IB, and dismissed the cross objection regarding penalty for deduction claimed under section 80-IA. The cancellation of penalties was based on specific circumstances and legal precedents cited in each case, with the Tribunal granting the department the option to re-initiate penalties if required during assessment. Case-Laws Income Tax Thu, 19 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301874