https://www.taxtmi.com/caselaws?id=431385 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) for AY 2011-12. The Tribunal found that the assessee's claim for deductions under sections 54F and 54EC was legitimate, and there was no evidence of concealment or submission of incorrect particulars. Emphasizing that making a wrong claim does not automatically warrant a penalty, the Tribunal held that it was not a suitable case for imposing a penalty. Considering the small nature of other additions and the assessee's status as a senior citizen, the Tribunal allowed the appeal and annulled the penalty. en-us Thu, 20 Oct 2022 00:00:00 +0530 Mon, 12 Dec 2022 10:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431385 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) for AY 2011-12. The Tribunal found that the assessee's claim for deductions under sections 54F and 54EC was legitimate, and there was no evidence of concealment or submission of incorrect particulars. Emphasizing that making a wrong claim does not automatically warrant a penalty, the Tribunal held that it was not a suitable case for imposing a penalty. Considering the small nature of other additions and the assessee's status as a senior citizen, the Tribunal allowed the appeal and annulled the penalty. Case-Laws Income Tax Thu, 20 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431385