https://www.taxtmi.com/caselaws?id=427889 The Tribunal allowed the appeal, directing the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the claim for interest paid to the partnership firm, though resulting in a net loss, was not inaccurate. Considering the facts and circumstances, the Tribunal concluded that the penalty was not justified and ordered its deletion. en-us Fri, 16 Sep 2022 00:00:00 +0530 Mon, 19 Sep 2022 09:35:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427889 The Tribunal allowed the appeal, directing the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the claim for interest paid to the partnership firm, though resulting in a net loss, was not inaccurate. Considering the facts and circumstances, the Tribunal concluded that the penalty was not justified and ordered its deletion. Case-Laws Income Tax Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427889