https://www.taxtmi.com/caselaws?id=766918 ITAT Nagpur held that penalty under section 271(1)(c) cannot be imposed where AO denied exemption under section 11 and disallowed trust expenses. The tribunal found that disallowed expenses did not constitute concealment of income or filing inaccurate particulars. Since the case involved genuine claim disputes rather than concealment, penalty provisions were not applicable. ITAT cancelled the penalty imposed by AO and confirmed by CIT(A), allowing the assessee's appeal. en-us Tue, 04 Mar 2025 00:00:00 +0530 Thu, 06 Mar 2025 07:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766918 ITAT Nagpur held that penalty under section 271(1)(c) cannot be imposed where AO denied exemption under section 11 and disallowed trust expenses. The tribunal found that disallowed expenses did not constitute concealment of income or filing inaccurate particulars. Since the case involved genuine claim disputes rather than concealment, penalty provisions were not applicable. ITAT cancelled the penalty imposed by AO and confirmed by CIT(A), allowing the assessee's appeal. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766918