https://www.taxtmi.com/caselaws?id=439745 The tribunal allowed the appeal of the assessee, vacating the penalty of Rs. 4,17,900/- imposed under section 271(1)(c) of the Income Tax Act. This decision was based on the allowance of the quantum appeal regarding the deduction under section 54F, which favored the assessee. The tribunal concluded that since the deduction was granted in the quantum appeal, the penalty could not be sustained. en-us Wed, 28 Jun 2023 00:00:00 +0530 Mon, 18 Sep 2023 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439745 The tribunal allowed the appeal of the assessee, vacating the penalty of Rs. 4,17,900/- imposed under section 271(1)(c) of the Income Tax Act. This decision was based on the allowance of the quantum appeal regarding the deduction under section 54F, which favored the assessee. The tribunal concluded that since the deduction was granted in the quantum appeal, the penalty could not be sustained. Case-Laws Income Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439745