Tribunal's decision to cancel penalty initiation u/s 271(1)(c) of Income Tax Act upheld; no interference warranted.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Penalty under Section 271(1)(c) - Since the Tribunal deleted the addition and ordered expunging the initiation of penalty proceedings under Section 271(1C) no reason to interfere with the finding of the Tribunal. - HC....


TaxTMI