https://www.taxtmi.com/caselaws?id=376712 The penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2012-13 was deleted. The court found that the assessee's erroneous claim for depreciation on a building let out was inadvertent and made in good faith, as evidenced by corrective actions taken in subsequent years. The penalty was deemed unjustified, and the appeal of the assessee was allowed. The decision was rendered on 8th March 2019. en-us Fri, 08 Mar 2019 00:00:00 +0530 Thu, 14 Mar 2019 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376712 The penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2012-13 was deleted. The court found that the assessee's erroneous claim for depreciation on a building let out was inadvertent and made in good faith, as evidenced by corrective actions taken in subsequent years. The penalty was deemed unjustified, and the appeal of the assessee was allowed. The decision was rendered on 8th March 2019. Case-Laws Income Tax Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376712