https://www.taxtmi.com/caselaws?id=751932 The Tribunal allowed the assessee's appeal, ordering the deletion of the penalty of Rs. 10,38,976 under sec. 270A of the Income Tax Act, 1961, for the assessment year 2017-18. The Tribunal concluded that the interest income was duly disclosed, rejecting the Revenue's arguments and emphasizing that quantum additions do not automatically warrant penalties. en-us Thu, 25 Apr 2024 00:00:00 +0530 Tue, 30 Apr 2024 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751932 The Tribunal allowed the assessee's appeal, ordering the deletion of the penalty of Rs. 10,38,976 under sec. 270A of the Income Tax Act, 1961, for the assessment year 2017-18. The Tribunal concluded that the interest income was duly disclosed, rejecting the Revenue's arguments and emphasizing that quantum additions do not automatically warrant penalties. Case-Laws Income Tax Thu, 25 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751932