Delhi High Court Rules No Penalty for ALV Addition on Vacant Properties Due to Previously Unclear Law. https://www.taxtmi.com/highlights?id=71341 Penalty u/s 271(1)(c) - addition on account of the ALV of vacant commercial/self-occupied assets - The issue involved was debatable at the relevant point in time, which took a different turn only when this court delivered its judgment in Ansal Housing Finance & Leasing Co. Ltd. [2012 (11) TMI 323 - DELHI HIGH COURT] - No penalty - HC en-us Sat, 05 Aug 2023 10:39:18 +0530 Sat, 05 Aug 2023 10:39:18 +0530 TaxTMI RSS Generator Delhi High Court Rules No Penalty for ALV Addition on Vacant Properties Due to Previously Unclear Law. https://www.taxtmi.com/highlights?id=71341 Penalty u/s 271(1)(c) - addition on account of the ALV of vacant commercial/self-occupied assets - The issue involved was debatable at the relevant point in time, which took a different turn only when this court delivered its judgment in Ansal Housing Finance & Leasing Co. Ltd. [2012 (11) TMI 323 - DELHI HIGH COURT] - No penalty - HC Highlights Income Tax Sat, 05 Aug 2023 10:39:18 +0530 https://www.taxtmi.com/highlights?id=71341