https://www.taxtmi.com/caselaws?id=380581 The tribunal condoned the delay in filing the appeal due to a reasonable cause, admitted the appeal for adjudication on merit, and found the disallowance of excess interest paid unjustified. The penalty imposed under section 271(1)(c) of the Income Tax Act was deleted as the tribunal deemed the errors in claiming deductions as bona fide mistakes with no intention to furnish inaccurate income particulars. The tribunal emphasized the importance of specifying the nature of the offense for penalty imposition and concluded that the penalty order was unsustainable. en-us Wed, 15 May 2019 00:00:00 +0530 Fri, 24 May 2019 12:06:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380581 The tribunal condoned the delay in filing the appeal due to a reasonable cause, admitted the appeal for adjudication on merit, and found the disallowance of excess interest paid unjustified. The penalty imposed under section 271(1)(c) of the Income Tax Act was deleted as the tribunal deemed the errors in claiming deductions as bona fide mistakes with no intention to furnish inaccurate income particulars. The tribunal emphasized the importance of specifying the nature of the offense for penalty imposition and concluded that the penalty order was unsustainable. Case-Laws Income Tax Wed, 15 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380581