https://www.taxtmi.com/caselaws?id=420486 The Appellate Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) for inadvertent claim of expenditure under Corporate Social Responsibility. The Tribunal found the mistake to be a genuine oversight, rectified promptly by the assessee during assessment proceedings. Emphasizing the bona fide nature of the error and citing legal precedents, the Tribunal concluded that no penalty should be imposed in this case. The assessing officer was directed to delete the penalty, and the appeal of the assessee was upheld. en-us Thu, 17 Mar 2022 00:00:00 +0530 Sat, 02 Apr 2022 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420486 The Appellate Tribunal allowed the appeal, setting aside the penalty imposed under section 271(1)(c) for inadvertent claim of expenditure under Corporate Social Responsibility. The Tribunal found the mistake to be a genuine oversight, rectified promptly by the assessee during assessment proceedings. Emphasizing the bona fide nature of the error and citing legal precedents, the Tribunal concluded that no penalty should be imposed in this case. The assessing officer was directed to delete the penalty, and the appeal of the assessee was upheld. Case-Laws Income Tax Thu, 17 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420486