https://www.taxtmi.com/caselaws?id=264692 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) as the claim for deduction under Section 80IB was made in good faith based on Ministry of Industry notifications. The Court found that the assessee disclosed all material facts and made a bonafide claim, leading to no concealment or inaccurate particulars. The appeal by the revenue was dismissed as no substantial question of law arose from the case. en-us Wed, 26 Aug 2015 00:00:00 +0530 Wed, 30 Sep 2015 06:24:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264692 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) as the claim for deduction under Section 80IB was made in good faith based on Ministry of Industry notifications. The Court found that the assessee disclosed all material facts and made a bonafide claim, leading to no concealment or inaccurate particulars. The appeal by the revenue was dismissed as no substantial question of law arose from the case. Case-Laws Income Tax Wed, 26 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264692