https://www.taxtmi.com/caselaws?id=185490 The case involved the levy of a penalty under section 271(1)(c) of the IT Act. The assessee contested the penalty imposed for claiming a deduction under section 80 HHC for export of computer software, which was deemed bogus. The AO found unexplained income and disallowed the deduction. The penalty was initially set at Rs. 30,00,000/- but reduced to Rs. 28,07,744/-. The Tribunal directed the AO to levy the minimum penalty based on the revised total income of Rs. 3,28,357/-. The appeal was partly allowed, with the penalty calculated on the revised total income amount. en-us Fri, 11 Jun 2010 00:00:00 +0530 Tue, 16 Aug 2016 13:02:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185490 The case involved the levy of a penalty under section 271(1)(c) of the IT Act. The assessee contested the penalty imposed for claiming a deduction under section 80 HHC for export of computer software, which was deemed bogus. The AO found unexplained income and disallowed the deduction. The penalty was initially set at Rs. 30,00,000/- but reduced to Rs. 28,07,744/-. The Tribunal directed the AO to levy the minimum penalty based on the revised total income of Rs. 3,28,357/-. The appeal was partly allowed, with the penalty calculated on the revised total income amount. Case-Laws Income Tax Fri, 11 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185490