https://www.taxtmi.com/caselaws?id=253788 The Tribunal set aside the CIT(A)'s order confirming a concealment penalty under section 271(1)(c) of the Income Tax Act, 1961, against the assessee. The Tribunal held that the assessee's claim for deduction under section 80JJAA, although disallowed based on a previous Supreme Court decision, was made in good faith and debatable. Considering the legal sustainability of the claim and the assessee's belief, the penalty was deemed unjustified. The AO was directed to delete the penalty, allowing the assessee's appeal. en-us Fri, 22 Aug 2014 00:00:00 +0530 Fri, 28 Nov 2014 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253788 The Tribunal set aside the CIT(A)'s order confirming a concealment penalty under section 271(1)(c) of the Income Tax Act, 1961, against the assessee. The Tribunal held that the assessee's claim for deduction under section 80JJAA, although disallowed based on a previous Supreme Court decision, was made in good faith and debatable. Considering the legal sustainability of the claim and the assessee's belief, the penalty was deemed unjustified. The AO was directed to delete the penalty, allowing the assessee's appeal. Case-Laws Income Tax Fri, 22 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253788