https://www.taxtmi.com/caselaws?id=235132 Penalty under section 271(1)(c) was unsustainable where the assessee had fully disclosed all material facts and claimed deduction under section 80HHC on the basis of the then-prevailing High Court ruling. The Tribunal found no concealment or furnishing of inaccurate particulars, and the later reversal of that ruling by the Supreme Court did not convert the original claim into penal misconduct. Deletion of penalty was therefore justified, and the appeal failed. en-us Mon, 05 Nov 2012 00:00:00 +0530 Fri, 12 Jul 2013 08:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235132 Penalty under section 271(1)(c) was unsustainable where the assessee had fully disclosed all material facts and claimed deduction under section 80HHC on the basis of the then-prevailing High Court ruling. The Tribunal found no concealment or furnishing of inaccurate particulars, and the later reversal of that ruling by the Supreme Court did not convert the original claim into penal misconduct. Deletion of penalty was therefore justified, and the appeal failed. Case-Laws Income Tax Mon, 05 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235132