https://www.taxtmi.com/caselaws?id=423827 The Tribunal allowed the appeal, finding penalties imposed on disallowance of charity and donation expenses and deduction under Section 80IC to be unjustified and reversed. The Tribunal held that no satisfaction was formed during assessment for imposing penalties under Section 271(1)(c) for charity and donation expenses. Additionally, the denial of deduction under Section 80IC based on interpretative process did not amount to furnishing inaccurate particulars of income, leading to cancellation of the penalty. en-us Tue, 14 Jun 2022 00:00:00 +0530 Thu, 16 Jun 2022 09:13:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423827 The Tribunal allowed the appeal, finding penalties imposed on disallowance of charity and donation expenses and deduction under Section 80IC to be unjustified and reversed. The Tribunal held that no satisfaction was formed during assessment for imposing penalties under Section 271(1)(c) for charity and donation expenses. Additionally, the denial of deduction under Section 80IC based on interpretative process did not amount to furnishing inaccurate particulars of income, leading to cancellation of the penalty. Case-Laws Income Tax Tue, 14 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423827