https://www.taxtmi.com/caselaws?id=184974 The ITAT upheld the CIT(A)'s decision to delete penalties imposed under section 271(1)(c) for disallowance of deductions claimed under section 80IB. The ITAT ruled that the late filing of returns did not constitute furnishing inaccurate particulars of income as the claim was made in good faith. The appeals by the Revenue were dismissed, affirming that making an incorrect claim in law does not amount to furnishing inaccurate particulars of income. en-us Fri, 08 Mar 2013 00:00:00 +0530 Tue, 26 Jul 2016 18:18:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184974 The ITAT upheld the CIT(A)'s decision to delete penalties imposed under section 271(1)(c) for disallowance of deductions claimed under section 80IB. The ITAT ruled that the late filing of returns did not constitute furnishing inaccurate particulars of income as the claim was made in good faith. The appeals by the Revenue were dismissed, affirming that making an incorrect claim in law does not amount to furnishing inaccurate particulars of income. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184974