https://www.taxtmi.com/caselaws?id=220490 The High Court ruled in favor of the assessee in a case concerning the levy of a penalty under Section 271(1)(c) of the Income Tax Act for furnishing inaccurate particulars related to a claim under Section 80HHC of the Act. The Court found that the claim made by the assessee, although later deemed unsustainable, was considered bona fide and not intentionally misleading. As a result, the penalty was deemed unjustified, and the appeal by the revenue was dismissed, upholding the Tribunal's decision. en-us Wed, 10 Oct 2012 00:00:00 +0530 Sat, 19 Jan 2013 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220490 The High Court ruled in favor of the assessee in a case concerning the levy of a penalty under Section 271(1)(c) of the Income Tax Act for furnishing inaccurate particulars related to a claim under Section 80HHC of the Act. The Court found that the claim made by the assessee, although later deemed unsustainable, was considered bona fide and not intentionally misleading. As a result, the penalty was deemed unjustified, and the appeal by the revenue was dismissed, upholding the Tribunal's decision. Case-Laws Income Tax Wed, 10 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220490