https://www.taxtmi.com/caselaws?id=183037 The appeals involved a dispute over the imposition of penalties under section 271(1)(c) for incorrect deduction claims under section 80IB of the Income-tax Act for Assessment Years 2002-03, 2003-04, and 2004-05. The CIT(A) and ITAT Delhi Bench "C" both ruled in favor of the assessee, deleting the penalties due to the bona fide nature of the claim and conflicting High Court opinions regarding the deduction's allowability. As a result, the Revenue's appeals for all years were dismissed, and the penalties were not upheld. en-us Fri, 29 Jan 2010 00:00:00 +0530 Thu, 26 May 2016 16:34:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183037 The appeals involved a dispute over the imposition of penalties under section 271(1)(c) for incorrect deduction claims under section 80IB of the Income-tax Act for Assessment Years 2002-03, 2003-04, and 2004-05. The CIT(A) and ITAT Delhi Bench "C" both ruled in favor of the assessee, deleting the penalties due to the bona fide nature of the claim and conflicting High Court opinions regarding the deduction's allowability. As a result, the Revenue's appeals for all years were dismissed, and the penalties were not upheld. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183037