https://www.taxtmi.com/caselaws?id=425071 The Tribunal allowed the appeal and deleted the penalty imposed under sections 40(a)(ia) and 80G of the Income-tax Act, 1961. It was concluded that there was no concealment of income justifying penalty proceedings, as the assessee rectified the tax deduction errors and provided explanations for the disallowed expenses. The Tribunal found that the penalty was not warranted based on the circumstances and quantum involved, leading to the deletion of the penalty initially imposed by the Assessing Officer and confirmed by the CIT(A). en-us Tue, 12 Jul 2022 00:00:00 +0530 Thu, 14 Jul 2022 08:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425071 The Tribunal allowed the appeal and deleted the penalty imposed under sections 40(a)(ia) and 80G of the Income-tax Act, 1961. It was concluded that there was no concealment of income justifying penalty proceedings, as the assessee rectified the tax deduction errors and provided explanations for the disallowed expenses. The Tribunal found that the penalty was not warranted based on the circumstances and quantum involved, leading to the deletion of the penalty initially imposed by the Assessing Officer and confirmed by the CIT(A). Case-Laws Income Tax Tue, 12 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425071