https://www.taxtmi.com/highlights?id=62530 Penalty u/s 271(1)(c) - deduction under Section 80P - Tribunal has recorded a finding of the fact that there is no evidence of concealment of income. Tribunal has concluded that the appellant had made a legitimate claim for exemption under section 80P(2)(a)(i) which was purely a legal in nature and even on rejection of such a claim, no penalty is leviable. - order of ITAT does not suffer from any legal infirmity. - HC en-us Mon, 21 Mar 2022 13:28:51 +0530 Mon, 21 Mar 2022 13:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62530 Penalty u/s 271(1)(c) - deduction under Section 80P - Tribunal has recorded a finding of the fact that there is no evidence of concealment of income. Tribunal has concluded that the appellant had made a legitimate claim for exemption under section 80P(2)(a)(i) which was purely a legal in nature and even on rejection of such a claim, no penalty is leviable. - order of ITAT does not suffer from any legal infirmity. - HC Highlights Income Tax Mon, 21 Mar 2022 13:28:51 +0530 https://www.taxtmi.com/highlights?id=62530