https://www.taxtmi.com/caselaws?id=281276 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) to delete the penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961. The penalty amounting to Rs. 13,20,920 was imposed due to discrepancies in the deduction claimed under section 35(2AB). The Tribunal found that the claim for weighted deduction was genuine, supported by documentary evidence and certifications, and aligned with prescribed guidelines. Emphasizing that the rejection of a claim does not automatically warrant a penalty, the Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty by the Commissioner (Appeals). en-us Wed, 31 May 2017 00:00:00 +0530 Tue, 11 Jun 2019 19:33:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281276 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) to delete the penalty imposed by the Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961. The penalty amounting to Rs. 13,20,920 was imposed due to discrepancies in the deduction claimed under section 35(2AB). The Tribunal found that the claim for weighted deduction was genuine, supported by documentary evidence and certifications, and aligned with prescribed guidelines. Emphasizing that the rejection of a claim does not automatically warrant a penalty, the Tribunal dismissed the Revenue's appeal, affirming the deletion of the penalty by the Commissioner (Appeals). Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281276