https://www.taxtmi.com/caselaws?id=281462 The Tribunal affirmed the cancellation of a penalty under section 271(1)(c) of the Income Tax Act by the ld.CIT(A) for the assessment year 2010-11. The penalty was imposed on the assessee, a charitable institution, by the ld.AO for denial of exemptions under sections 11 and 12. The High Court upheld the charitable status of the institution, leading to the deletion of additions to the income and subsequent cancellation of the penalty. The Tribunal dismissed the Revenue's appeal, concluding that the penalty cancellation was justified due to the deletion of income additions by the High Court. en-us Wed, 01 Aug 2018 00:00:00 +0530 Thu, 20 Jun 2019 15:23:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281462 The Tribunal affirmed the cancellation of a penalty under section 271(1)(c) of the Income Tax Act by the ld.CIT(A) for the assessment year 2010-11. The penalty was imposed on the assessee, a charitable institution, by the ld.AO for denial of exemptions under sections 11 and 12. The High Court upheld the charitable status of the institution, leading to the deletion of additions to the income and subsequent cancellation of the penalty. The Tribunal dismissed the Revenue's appeal, concluding that the penalty cancellation was justified due to the deletion of income additions by the High Court. Case-Laws Income Tax Wed, 01 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281462