https://www.taxtmi.com/caselaws?id=184785 The Tribunal ruled that no penalty could be imposed for a bona fide error, deleting the penalty under section 271(1)(c) and allowing the assessee's appeal. The excess deduction claimed on interest payment was considered a human error without malicious intent to evade tax, leading to the conclusion that the penalty imposition was unjustified. The Tribunal referenced legal precedents to support its decision, ultimately removing the penalty under section 271(1)(c) in favor of the assessee. en-us Fri, 22 Apr 2016 00:00:00 +0530 Wed, 20 Jul 2016 12:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184785 The Tribunal ruled that no penalty could be imposed for a bona fide error, deleting the penalty under section 271(1)(c) and allowing the assessee's appeal. The excess deduction claimed on interest payment was considered a human error without malicious intent to evade tax, leading to the conclusion that the penalty imposition was unjustified. The Tribunal referenced legal precedents to support its decision, ultimately removing the penalty under section 271(1)(c) in favor of the assessee. Case-Laws Income Tax Fri, 22 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184785