https://www.taxtmi.com/caselaws?id=382144 The High Court upheld the Tribunal's decision to delete the penalty under section 271(1)(c) of the Income Tax Act for the assessment year 2009-10. The court found that the errors in the return of income were genuine mistakes and not deliberate, accepting the reasonable explanations provided by the assessee. It emphasized that the penalty provision focuses on the reasonableness of explanations rather than the legal correctness of claims. The court dismissed the appeal, stating that no substantial question of law arose warranting interference. en-us Mon, 08 Apr 2019 00:00:00 +0530 Tue, 25 Jun 2019 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382144 The High Court upheld the Tribunal's decision to delete the penalty under section 271(1)(c) of the Income Tax Act for the assessment year 2009-10. The court found that the errors in the return of income were genuine mistakes and not deliberate, accepting the reasonable explanations provided by the assessee. It emphasized that the penalty provision focuses on the reasonableness of explanations rather than the legal correctness of claims. The court dismissed the appeal, stating that no substantial question of law arose warranting interference. Case-Laws Income Tax Mon, 08 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382144