https://www.taxtmi.com/caselaws?id=79000 The Court dismissed the appeal filed by the revenue challenging the deletion of penalty under section 271(1)(c) on the deduction claimed under section 80IB on export incentives. The Tribunal's decision was upheld, emphasizing the absence of deliberate furnishing of inaccurate particulars by the assessee, considering the Supreme Court's decision disallowing such claims at the time of filing the return. The Court reiterated the necessity of proving deliberate misconduct for penalty imposition and cited a similar precedent in support of the dismissal. en-us Mon, 20 Sep 2010 00:00:00 +0530 Wed, 29 Dec 2010 22:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=79000 The Court dismissed the appeal filed by the revenue challenging the deletion of penalty under section 271(1)(c) on the deduction claimed under section 80IB on export incentives. The Tribunal's decision was upheld, emphasizing the absence of deliberate furnishing of inaccurate particulars by the assessee, considering the Supreme Court's decision disallowing such claims at the time of filing the return. The Court reiterated the necessity of proving deliberate misconduct for penalty imposition and cited a similar precedent in support of the dismissal. Case-Laws Income Tax Mon, 20 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=79000