https://www.taxtmi.com/caselaws?id=250979 Penalty under section 271(1)(c) was not sustainable where the disallowance arose from an assessee's claim under section 10A and there was no material to show concealment of income or furnishing of inaccurate particulars. The Tribunal accepted that the quantum addition stemmed from interpretation of law and followed the assessee's earlier year decision on the same issue; the HC found no error in that approach and held that no substantial question of law arose. The deletion of penalty was therefore upheld in favour of the assessee. en-us Mon, 11 Aug 2014 00:00:00 +0530 Mon, 01 Sep 2014 07:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250979 Penalty under section 271(1)(c) was not sustainable where the disallowance arose from an assessee's claim under section 10A and there was no material to show concealment of income or furnishing of inaccurate particulars. The Tribunal accepted that the quantum addition stemmed from interpretation of law and followed the assessee's earlier year decision on the same issue; the HC found no error in that approach and held that no substantial question of law arose. The deletion of penalty was therefore upheld in favour of the assessee. Case-Laws Income Tax Mon, 11 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250979