https://www.taxtmi.com/caselaws?id=429379 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty u/s. 271(1)(c) for A.Y. 2007-08. The decision was based on the finding that the claim, though incorrect in law, did not amount to furnishing inaccurate particulars of income. Additionally, the debatable nature of the subsidy issue, pending before the High Court, supported the deletion of the penalty. en-us Wed, 19 Oct 2022 00:00:00 +0530 Thu, 27 Oct 2022 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429379 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty u/s. 271(1)(c) for A.Y. 2007-08. The decision was based on the finding that the claim, though incorrect in law, did not amount to furnishing inaccurate particulars of income. Additionally, the debatable nature of the subsidy issue, pending before the High Court, supported the deletion of the penalty. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429379