https://www.taxtmi.com/caselaws?id=264287 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The penalty was initially levied by the Assessing Officer for alleged excess deductions claimed under sections 80IB and 80HHC. However, the CIT(A) found no concealment or inaccurate particulars furnished by the assessee, deeming the penalty unjustified. The Tribunal considered the deductions as debatable issues made in good faith based on the legal position prevailing at the time, leading to the dismissal of the Revenue's appeal. en-us Thu, 27 Aug 2015 00:00:00 +0530 Tue, 22 Sep 2015 06:54:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264287 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961. The penalty was initially levied by the Assessing Officer for alleged excess deductions claimed under sections 80IB and 80HHC. However, the CIT(A) found no concealment or inaccurate particulars furnished by the assessee, deeming the penalty unjustified. The Tribunal considered the deductions as debatable issues made in good faith based on the legal position prevailing at the time, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 27 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264287