https://www.taxtmi.com/caselaws?id=402700 The Tribunal upheld the decision of the Ld. CIT(A) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for Assessment Year 2009-10. The Tribunal considered the similarity of the issue with a previous case for A.Y. 2011-12 where the High Court admitted the appeal on substantial questions of law. Given the pending decision of the High Court on the deduction under section 80P and the assessee's bona fide claim, the penalty was deemed unsustainable and was therefore deleted. The revenue's appeal against the penalty was dismissed. en-us Thu, 07 Jan 2021 00:00:00 +0530 Wed, 28 Jul 2021 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402700 The Tribunal upheld the decision of the Ld. CIT(A) to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for Assessment Year 2009-10. The Tribunal considered the similarity of the issue with a previous case for A.Y. 2011-12 where the High Court admitted the appeal on substantial questions of law. Given the pending decision of the High Court on the deduction under section 80P and the assessee's bona fide claim, the penalty was deemed unsustainable and was therefore deleted. The revenue's appeal against the penalty was dismissed. Case-Laws Income Tax Thu, 07 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402700