https://www.taxtmi.com/caselaws?id=280328 The tribunal upheld the levy of penalty under section 271(1)(c) of the Income Tax Act, dismissing the appeal. The penalty was imposed due to the inaccurate claim for deduction under section 80IB, which was deemed not bonafide. Despite being advised by a Chartered Accountant, the claim was found to be false, resulting in the affirmation of the penalty imposition. en-us Thu, 06 Dec 2012 00:00:00 +0530 Wed, 01 May 2019 12:25:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280328 The tribunal upheld the levy of penalty under section 271(1)(c) of the Income Tax Act, dismissing the appeal. The penalty was imposed due to the inaccurate claim for deduction under section 80IB, which was deemed not bonafide. Despite being advised by a Chartered Accountant, the claim was found to be false, resulting in the affirmation of the penalty imposition. Case-Laws Income Tax Thu, 06 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280328