https://www.taxtmi.com/caselaws?id=468857 Penalty under section 271(1)(c) arising from a claim for deduction under section 36(1)(viii) was not restored where the Tribunal had deleted it on the basis that the assessee's explanation was reasonable. Although the quantum addition had been sustained, the Court confined its review to the penalty proceedings and found no ground to interfere with the Tribunal's view. The Court also noted that a similar penalty appeal arising from the same Tribunal judgment had already been dismissed, reinforcing the result. The deletion of penalty was therefore upheld. en-us Tue, 12 Jun 2018 00:00:00 +0530 Mon, 29 Jun 2026 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468857 Penalty under section 271(1)(c) arising from a claim for deduction under section 36(1)(viii) was not restored where the Tribunal had deleted it on the basis that the assessee's explanation was reasonable. Although the quantum addition had been sustained, the Court confined its review to the penalty proceedings and found no ground to interfere with the Tribunal's view. The Court also noted that a similar penalty appeal arising from the same Tribunal judgment had already been dismissed, reinforcing the result. The deletion of penalty was therefore upheld. Case-Laws Income Tax Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468857