https://www.taxtmi.com/caselaws?id=438949 The Appellate Tribunal ITAT Ahmedabad allowed the appeal of the assessee, directing the deletion of the penalty under section 271(1)(c) of the Income Tax Act. The Tribunal found that the disallowance under Section 14A and interest income under Section 244A did not warrant a penalty as there was no concealment or furnishing of inaccurate particulars of income. The penalty for disallowance of administrative expenses under Section 14A and interest on income-tax refund was deemed unsustainable and directed to be deleted. en-us Fri, 09 Jun 2023 00:00:00 +0530 Tue, 13 Jun 2023 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438949 The Appellate Tribunal ITAT Ahmedabad allowed the appeal of the assessee, directing the deletion of the penalty under section 271(1)(c) of the Income Tax Act. The Tribunal found that the disallowance under Section 14A and interest income under Section 244A did not warrant a penalty as there was no concealment or furnishing of inaccurate particulars of income. The penalty for disallowance of administrative expenses under Section 14A and interest on income-tax refund was deemed unsustainable and directed to be deleted. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438949