https://www.taxtmi.com/caselaws?id=273009 The appeal against the order of the Commissioner of Income Tax (Appeals) under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2008-09 was successful. The Tribunal found that despite the assessee's mistake in claiming the deduction under the wrong provision of the law, it was done in good faith based on advice from a Chartered Accountant. The Tribunal held that the penalty imposed was unjustified as the assessee acted in good faith and disclosed all income particulars. Consequently, the penalty under section 271(1)(c) was deleted, and the appeal was allowed. en-us Thu, 31 Jan 2013 00:00:00 +0530 Wed, 30 May 2018 16:12:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273009 The appeal against the order of the Commissioner of Income Tax (Appeals) under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2008-09 was successful. The Tribunal found that despite the assessee's mistake in claiming the deduction under the wrong provision of the law, it was done in good faith based on advice from a Chartered Accountant. The Tribunal held that the penalty imposed was unjustified as the assessee acted in good faith and disclosed all income particulars. Consequently, the penalty under section 271(1)(c) was deleted, and the appeal was allowed. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273009