https://www.taxtmi.com/caselaws?id=208500 The Tribunal set aside the penalty imposed under section 271(1)(c) of the IT Act on the assessee. The decision was based on the finding that the inadvertent error in claiming expenses in the company's first year, without any active business operations, did not warrant a penalty. en-us Thu, 21 Apr 2011 00:00:00 +0530 Wed, 18 Jan 2012 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208500 The Tribunal set aside the penalty imposed under section 271(1)(c) of the IT Act on the assessee. The decision was based on the finding that the inadvertent error in claiming expenses in the company's first year, without any active business operations, did not warrant a penalty. Case-Laws Income Tax Thu, 21 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208500