https://www.taxtmi.com/caselaws?id=76925 The Tribunal dismissed the appeal filed by the Revenue regarding the penalty imposed under section 271(1)(c) of the Income-tax Act for excess deduction claimed under section 80HHC. The Tribunal upheld the deletion of the penalty by the Commissioner of Income-tax (Appeals), emphasizing that the penalty cannot be imposed merely for raising a debatable issue without any concealment or misrepresentation by the assessee. The decision highlighted the absence of deliberate intent to conceal income, leading to the deletion of the penalty. en-us Tue, 16 Dec 2008 00:00:00 +0530 Thu, 29 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76925 The Tribunal dismissed the appeal filed by the Revenue regarding the penalty imposed under section 271(1)(c) of the Income-tax Act for excess deduction claimed under section 80HHC. The Tribunal upheld the deletion of the penalty by the Commissioner of Income-tax (Appeals), emphasizing that the penalty cannot be imposed merely for raising a debatable issue without any concealment or misrepresentation by the assessee. The decision highlighted the absence of deliberate intent to conceal income, leading to the deletion of the penalty. Case-Laws Income Tax Tue, 16 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76925