https://www.taxtmi.com/caselaws?id=178338 The High Court dismissed the appeal regarding the penalty imposed under s. 271(1)(c) of the IT Act for the assessment year 2004-05. The Court found that the assessee acted in good faith based on legal advice in claiming the deduction under s. 10(36) of the IT Act. Despite the claim being incorrect, there was no intention to conceal income, and the assessee provided all relevant details. The Court held that the Tribunal's decision was correct, emphasizing that a litigant should not be penalized for their counsel's mistake. en-us Fri, 11 Apr 2008 00:00:00 +0530 Tue, 02 Feb 2016 15:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178338 The High Court dismissed the appeal regarding the penalty imposed under s. 271(1)(c) of the IT Act for the assessment year 2004-05. The Court found that the assessee acted in good faith based on legal advice in claiming the deduction under s. 10(36) of the IT Act. Despite the claim being incorrect, there was no intention to conceal income, and the assessee provided all relevant details. The Court held that the Tribunal's decision was correct, emphasizing that a litigant should not be penalized for their counsel's mistake. Case-Laws Income Tax Fri, 11 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178338