https://www.taxtmi.com/caselaws?id=376562 The High Court of Bombay upheld the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, emphasizing the assessee's bona fide belief and full disclosure of information. The Court did not entertain the penalty issue related to the breach of Section 54EC due to the small amount involved and uncertainty regarding the investment ceiling. en-us Mon, 04 Mar 2019 00:00:00 +0530 Tue, 12 Mar 2019 08:15:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376562 The High Court of Bombay upheld the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income Tax Act, emphasizing the assessee's bona fide belief and full disclosure of information. The Court did not entertain the penalty issue related to the breach of Section 54EC due to the small amount involved and uncertainty regarding the investment ceiling. Case-Laws Income Tax Mon, 04 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376562