https://www.taxtmi.com/caselaws?id=378221 The tribunal overturned the CIT(A)'s decision and ruled in favor of the appellant, finding no basis for penalty imposition under section 271(1)(c) of the Act. The error in claiming incorrect deduction u/s 80 IC was deemed inadvertent, not intentional concealment, supported by audit reports. Emphasizing the absence of willful deception and citing precedents, the tribunal directed the Assessing Officer to delete the penalty amount, allowing the appeal. en-us Fri, 29 Mar 2019 00:00:00 +0530 Wed, 10 Apr 2019 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378221 The tribunal overturned the CIT(A)'s decision and ruled in favor of the appellant, finding no basis for penalty imposition under section 271(1)(c) of the Act. The error in claiming incorrect deduction u/s 80 IC was deemed inadvertent, not intentional concealment, supported by audit reports. Emphasizing the absence of willful deception and citing precedents, the tribunal directed the Assessing Officer to delete the penalty amount, allowing the appeal. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378221