https://www.taxtmi.com/caselaws?id=217906 The case involved the deletion of penalties under section 271(1)(c) for furnishing inaccurate particulars of incomes and willfully claiming excess deduction under section 80HHC. The Tribunal upheld the decision to delete the penalties, emphasizing that they were not justified due to retrospective amendments in the law and the assessee's full disclosure of material facts for income computation. The Tribunal highlighted that penalty provisions should be applied judiciously, considering all relevant circumstances. The appeal filed by the Revenue was dismissed, affirming the decision to delete the penalties. en-us Fri, 19 Oct 2012 00:00:00 +0530 Mon, 15 Jul 2013 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217906 The case involved the deletion of penalties under section 271(1)(c) for furnishing inaccurate particulars of incomes and willfully claiming excess deduction under section 80HHC. The Tribunal upheld the decision to delete the penalties, emphasizing that they were not justified due to retrospective amendments in the law and the assessee's full disclosure of material facts for income computation. The Tribunal highlighted that penalty provisions should be applied judiciously, considering all relevant circumstances. The appeal filed by the Revenue was dismissed, affirming the decision to delete the penalties. Case-Laws Income Tax Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217906