https://www.taxtmi.com/caselaws?id=369053 The ITAT upheld the decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for Assessment Year 2005-06. The Revenue's appeal against the penalty order was dismissed, emphasizing that errors in claiming deductions made inadvertently and in good faith, with full disclosure to tax authorities, do not warrant penalty imposition. The CIT(A) had deleted the penalty after considering the appellant's submissions, relevant case law, and the factual circumstances, ultimately leading to the ITAT's affirmation of the penalty deletion decision. en-us Wed, 03 Oct 2018 00:00:00 +0530 Sat, 20 Oct 2018 09:58:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369053 The ITAT upheld the decision to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for Assessment Year 2005-06. The Revenue's appeal against the penalty order was dismissed, emphasizing that errors in claiming deductions made inadvertently and in good faith, with full disclosure to tax authorities, do not warrant penalty imposition. The CIT(A) had deleted the penalty after considering the appellant's submissions, relevant case law, and the factual circumstances, ultimately leading to the ITAT's affirmation of the penalty deletion decision. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369053