https://www.taxtmi.com/caselaws?id=31197 The High Court dismissed the revenue's appeal against the deletion of penalty under Section 271(1)(C) of the Income Tax Act. The Court found no substantial question of law to interfere with the Tribunal's decision, which allowed the assessee's appeal based on the ongoing litigation on the taxability of enhanced compensation and the appellant's bona fide belief that the income was not taxable. The Court noted the similarity with a previous judgment where the revenue's appeal had also been dismissed, affirming the Tribunal's findings. en-us Wed, 20 Feb 2008 00:00:00 +0530 Wed, 22 Oct 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31197 The High Court dismissed the revenue's appeal against the deletion of penalty under Section 271(1)(C) of the Income Tax Act. The Court found no substantial question of law to interfere with the Tribunal's decision, which allowed the assessee's appeal based on the ongoing litigation on the taxability of enhanced compensation and the appellant's bona fide belief that the income was not taxable. The Court noted the similarity with a previous judgment where the revenue's appeal had also been dismissed, affirming the Tribunal's findings. Case-Laws Income Tax Wed, 20 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31197