https://www.taxtmi.com/caselaws?id=458022 Penalty under section 271(1)(c) was held not leviable where the disallowance arose from section 40(a)(ia) and the assessee's failure to add back the amount in the return was an admitted bona fide oversight. The audit report had disclosed the non-deduction of tax at source, and the record did not show concealment of income or furnishing of inaccurate particulars. An inadvertent error or bona fide claim, without suppression of material facts, does not justify penalty; the penalty was directed to be deleted. en-us Mon, 01 Jan 2018 00:00:00 +0530 Thu, 03 Oct 2024 20:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458022 Penalty under section 271(1)(c) was held not leviable where the disallowance arose from section 40(a)(ia) and the assessee's failure to add back the amount in the return was an admitted bona fide oversight. The audit report had disclosed the non-deduction of tax at source, and the record did not show concealment of income or furnishing of inaccurate particulars. An inadvertent error or bona fide claim, without suppression of material facts, does not justify penalty; the penalty was directed to be deleted. Case-Laws Income Tax Mon, 01 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458022