https://www.taxtmi.com/caselaws?id=240197 The High Court upheld the ITAT's decision to delete the penalty under Section 271(1)(c) despite disallowing the claim under Section 80IA. The Court emphasized the lack of suppression or misrepresentation by the assessee, rendering the penalty unsustainable. The Court also considered the justification provided by the assessee for the claim under Section 80IA, noting expert advice supporting their interpretation. Ultimately, the Court found no justification for the penalty as there was no mens rea or misrepresentation by the assessee, dismissing the appeal and upholding the deletion of the penalty. en-us Mon, 11 Nov 2013 00:00:00 +0530 Thu, 28 Nov 2013 00:17:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240197 The High Court upheld the ITAT's decision to delete the penalty under Section 271(1)(c) despite disallowing the claim under Section 80IA. The Court emphasized the lack of suppression or misrepresentation by the assessee, rendering the penalty unsustainable. The Court also considered the justification provided by the assessee for the claim under Section 80IA, noting expert advice supporting their interpretation. Ultimately, the Court found no justification for the penalty as there was no mens rea or misrepresentation by the assessee, dismissing the appeal and upholding the deletion of the penalty. Case-Laws Income Tax Mon, 11 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240197