https://www.taxtmi.com/caselaws?id=376262 The Tribunal ruled in favor of the assessee in a case involving penalty under section 271(1)(c) of the Income Tax Act for Assessment Year 2014-15. The penalty imposed for claiming deduction under the wrong section was deemed unjustified due to the genuine mistake, prompt rectification, and disclosure of primary facts. The Tribunal considered the evidence presented, such as residential use proof and the assessee's reliance on a tax consultant. Consequently, the penalty was deleted, and the assessee's appeal was successful. en-us Thu, 28 Feb 2019 00:00:00 +0530 Mon, 08 Aug 2022 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376262 The Tribunal ruled in favor of the assessee in a case involving penalty under section 271(1)(c) of the Income Tax Act for Assessment Year 2014-15. The penalty imposed for claiming deduction under the wrong section was deemed unjustified due to the genuine mistake, prompt rectification, and disclosure of primary facts. The Tribunal considered the evidence presented, such as residential use proof and the assessee's reliance on a tax consultant. Consequently, the penalty was deleted, and the assessee's appeal was successful. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376262