https://www.taxtmi.com/caselaws?id=176668 The Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for A.Y. 2007-08. The Tribunal found that the incorrect depreciation claim was a mistake and not deliberate tax evasion, as the assessee's income remained a loss despite the error. The decision emphasized that unintentional errors in tax filings, without intent to evade taxes, should not attract penalties under the Act. en-us Fri, 22 Mar 2013 00:00:00 +0530 Thu, 25 May 2017 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176668 The Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for A.Y. 2007-08. The Tribunal found that the incorrect depreciation claim was a mistake and not deliberate tax evasion, as the assessee's income remained a loss despite the error. The decision emphasized that unintentional errors in tax filings, without intent to evade taxes, should not attract penalties under the Act. Case-Laws Income Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176668