https://www.taxtmi.com/caselaws?id=240345 The High Court upheld the Tribunal's decision to set aside the penalty imposed on the company for withdrawing a deduction claimed under Section 80IB(10) of the Income Tax Act, 1961. The Court found that the company's claim was valid, and there was no dishonest intention in withdrawing the deduction upon notification of ineligibility. As there was no substantial question of law, the appeal challenging the penalty imposition was dismissed, affirming the legality of the claim and absence of malafide intentions. en-us Tue, 29 Oct 2013 00:00:00 +0530 Sun, 01 Dec 2013 20:24:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240345 The High Court upheld the Tribunal's decision to set aside the penalty imposed on the company for withdrawing a deduction claimed under Section 80IB(10) of the Income Tax Act, 1961. The Court found that the company's claim was valid, and there was no dishonest intention in withdrawing the deduction upon notification of ineligibility. As there was no substantial question of law, the appeal challenging the penalty imposition was dismissed, affirming the legality of the claim and absence of malafide intentions. Case-Laws Income Tax Tue, 29 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240345