https://www.taxtmi.com/caselaws?id=440335 The Tribunal allowed the appeal, directing the AO to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for the Assessment Year 1997-98. The appellant's challenge against the penalty for disallowance of deductions under sections 80IA and 80HH was successful, resulting in the penalty of Rs. 47,55,054 being overturned. The Tribunal held that the denial of deductions was not tantamount to concealing income, as the appellant had provided complete particulars of income. en-us Wed, 12 Jul 2023 00:00:00 +0530 Fri, 14 Jul 2023 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440335 The Tribunal allowed the appeal, directing the AO to delete the penalty imposed under section 271(1)(c) of the Income Tax Act for the Assessment Year 1997-98. The appellant's challenge against the penalty for disallowance of deductions under sections 80IA and 80HH was successful, resulting in the penalty of Rs. 47,55,054 being overturned. The Tribunal held that the denial of deductions was not tantamount to concealing income, as the appellant had provided complete particulars of income. Case-Laws Income Tax Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440335