https://www.taxtmi.com/highlights?id=76058 Penalty u/s 271(1)(c) - bogus claim u/s 80C - The Tribunal found that there was a discrepancy in the application of penalties by the lower authorities. - While the Assessing Officer concluded it as a case of furnishing inaccurate particulars of income, the subsequent discussion by the National Faceless Appeal Centre deemed it as concealment of taxable income. - Citing a relevant high court decision, the Tribunal deemed this deviation unsustainable in law. - Consequently, the penalty was deemed inappropriate and was deleted. en-us Tue, 26 Mar 2024 07:52:51 +0530 Tue, 26 Mar 2024 07:52:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76058 Penalty u/s 271(1)(c) - bogus claim u/s 80C - The Tribunal found that there was a discrepancy in the application of penalties by the lower authorities. - While the Assessing Officer concluded it as a case of furnishing inaccurate particulars of income, the subsequent discussion by the National Faceless Appeal Centre deemed it as concealment of taxable income. - Citing a relevant high court decision, the Tribunal deemed this deviation unsustainable in law. - Consequently, the penalty was deemed inappropriate and was deleted. Highlights Income Tax Tue, 26 Mar 2024 07:52:51 +0530 https://www.taxtmi.com/highlights?id=76058