https://www.taxtmi.com/caselaws?id=435769 The Tribunal set aside the penalty imposed under section 271(1)(c) on a Co-operative Society for inaccurately claiming a deduction under section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal found that the claim was based on a bona fide belief and did not amount to furnishing inaccurate particulars of income. As there was no evidence of dishonest intent, the penalty was deleted, providing relief to the assessee. en-us Fri, 24 Mar 2023 00:00:00 +0530 Mon, 27 Mar 2023 09:10:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435769 The Tribunal set aside the penalty imposed under section 271(1)(c) on a Co-operative Society for inaccurately claiming a deduction under section 80P(2)(a)(i) of the Income Tax Act, 1961. The Tribunal found that the claim was based on a bona fide belief and did not amount to furnishing inaccurate particulars of income. As there was no evidence of dishonest intent, the penalty was deleted, providing relief to the assessee. Case-Laws Income Tax Fri, 24 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435769