https://www.taxtmi.com/caselaws?id=271066 The Tribunal upheld the Commissioner (Appeals) decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2007-08. The disallowance of deduction under section 80IB(10) for the housing project was confirmed due to non-fulfillment of specified conditions. However, the Tribunal accepted the assessee's claim made under a bona fide belief, dismissing the Revenue's appeal. en-us Fri, 06 Nov 2015 00:00:00 +0530 Mon, 25 Jan 2016 09:05:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271066 The Tribunal upheld the Commissioner (Appeals) decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2007-08. The disallowance of deduction under section 80IB(10) for the housing project was confirmed due to non-fulfillment of specified conditions. However, the Tribunal accepted the assessee's claim made under a bona fide belief, dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271066