https://www.taxtmi.com/caselaws?id=189818 The Appellate Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, on the assessee for claiming depreciation on a motor car and a profession tax deduction. The Tribunal ruled in favor of the assessee, stating that the claims were made in good faith without intentional inaccuracies, following legal precedents. The penalty was deemed unjustified, and the Tribunal directed the Assessing Officer to delete the penalty, emphasizing the genuine belief of entitlement in the appellant's claims. en-us Tue, 12 Jan 2016 00:00:00 +0530 Sat, 21 Jan 2017 17:58:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189818 The Appellate Tribunal set aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, on the assessee for claiming depreciation on a motor car and a profession tax deduction. The Tribunal ruled in favor of the assessee, stating that the claims were made in good faith without intentional inaccuracies, following legal precedents. The penalty was deemed unjustified, and the Tribunal directed the Assessing Officer to delete the penalty, emphasizing the genuine belief of entitlement in the appellant's claims. Case-Laws Income Tax Tue, 12 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189818