https://www.taxtmi.com/caselaws?id=450522 The ITAT Mumbai upheld penalty deletion for commission expenses under section 40(a)(ia) since the coordinate bench had already deleted the underlying addition in quantum proceedings. For unexplained investment in capital work and revenue expenses, the penalty matter was restored to CIT(A) as the quantum appeal remained pending after remand. Penalty for foreign travelling expenses and commission to foreign agents was upheld as the assessee failed to challenge the addition in quantum proceedings and provided no evidence the expenses were business-related. The penalty notice under section 271(1)(c) was held valid despite not striking off alternative limbs, as proper notice was given without prejudicing the assessee. en-us Tue, 27 Feb 2024 00:00:00 +0530 Wed, 06 Mar 2024 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450522 The ITAT Mumbai upheld penalty deletion for commission expenses under section 40(a)(ia) since the coordinate bench had already deleted the underlying addition in quantum proceedings. For unexplained investment in capital work and revenue expenses, the penalty matter was restored to CIT(A) as the quantum appeal remained pending after remand. Penalty for foreign travelling expenses and commission to foreign agents was upheld as the assessee failed to challenge the addition in quantum proceedings and provided no evidence the expenses were business-related. The penalty notice under section 271(1)(c) was held valid despite not striking off alternative limbs, as proper notice was given without prejudicing the assessee. Case-Laws Income Tax Tue, 27 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450522