https://www.taxtmi.com/caselaws?id=347190 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. The Tribunal emphasized that the disallowance of a claim under Section 80P did not warrant a penalty as the claim was made in good faith with full disclosure. The Tribunal's decision was based on the assessee's bona fide explanation and adherence to the statutory provisions, leading to the conclusion that no penalty for furnishing inaccurate particulars was justified. en-us Wed, 21 Jun 2017 00:00:00 +0530 Wed, 30 Aug 2017 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347190 The Tribunal dismissed the Revenue's appeals, upholding the CIT(A)'s decision to delete the penalty under Section 271(1)(c) of the Income Tax Act. The Tribunal emphasized that the disallowance of a claim under Section 80P did not warrant a penalty as the claim was made in good faith with full disclosure. The Tribunal's decision was based on the assessee's bona fide explanation and adherence to the statutory provisions, leading to the conclusion that no penalty for furnishing inaccurate particulars was justified. Case-Laws Income Tax Wed, 21 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347190