https://www.taxtmi.com/caselaws?id=381774 The Tribunal overturned penalty orders imposed under section 271(1)(c) of the Income-tax Act on a cooperative society for inaccurate income particulars related to deductions under section 80P. The Tribunal emphasized that penalties are not sustainable when substantial legal questions are pending, as in this case where the High Court and Supreme Court had divergent views. Consequently, the penalties were deleted, and the society's appeals were allowed. en-us Wed, 12 Jun 2019 00:00:00 +0530 Tue, 18 Jun 2019 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381774 The Tribunal overturned penalty orders imposed under section 271(1)(c) of the Income-tax Act on a cooperative society for inaccurate income particulars related to deductions under section 80P. The Tribunal emphasized that penalties are not sustainable when substantial legal questions are pending, as in this case where the High Court and Supreme Court had divergent views. Consequently, the penalties were deleted, and the society's appeals were allowed. Case-Laws Income Tax Wed, 12 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381774