High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Penalty Case — Penalty Under Section 271(1)(c) Cannot Be Imposed When Assessment Appeal Is Pending on Substantial Questions of Law. The court held that when the assessment order is under challenge and the appeal has been admitted on substantial questions of law, the issue is debatable and penalty under Section 271(1)(c) of the Income Tax Act, 1961 cannot be imposed.
3 Mar 2015The Revenue filed an appeal under Section 260-A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT) which had di...
