https://www.taxtmi.com/caselaws?id=417470 The Tribunal allowed the appeal, condoning the delay in filing and overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It held that the penalty was not warranted as the mistake was a typographical error, not deliberate, and there was no concealment of income. The Tribunal emphasized that a mere disallowance of a claim does not justify a penalty, setting aside the CIT(A)'s decision and directing the deletion of the penalty addition by the Assessing officer. en-us Mon, 17 Jan 2022 00:00:00 +0530 Thu, 03 Mar 2022 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417470 The Tribunal allowed the appeal, condoning the delay in filing and overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It held that the penalty was not warranted as the mistake was a typographical error, not deliberate, and there was no concealment of income. The Tribunal emphasized that a mere disallowance of a claim does not justify a penalty, setting aside the CIT(A)'s decision and directing the deletion of the penalty addition by the Assessing officer. Case-Laws Income Tax Mon, 17 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417470