https://www.taxtmi.com/caselaws?id=261361 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for the disallowance of expenditure claimed under section 35D. The Tribunal found the mistake in claiming the expenditure bonafide and inadvertent, considering the circumstances of the case, where the resulting company was eligible for deduction but did not claim it. Referring to relevant Supreme Court decisions, the Tribunal concluded that the assessee did not have an advantage to make a false claim, as both companies belonged to the same group. en-us Fri, 19 Jun 2015 00:00:00 +0530 Fri, 10 Jul 2015 06:29:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261361 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) for the disallowance of expenditure claimed under section 35D. The Tribunal found the mistake in claiming the expenditure bonafide and inadvertent, considering the circumstances of the case, where the resulting company was eligible for deduction but did not claim it. Referring to relevant Supreme Court decisions, the Tribunal concluded that the assessee did not have an advantage to make a false claim, as both companies belonged to the same group. Case-Laws Income Tax Fri, 19 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261361