https://www.taxtmi.com/caselaws?id=769537 ITAT Ahmedabad allowed the assessee's appeal against penalty levied under section 270A for disallowance of Health and Education Cess deduction. The tribunal held that the claim was made based on existing legal interpretation with full disclosure of facts and no concealment. The assessee voluntarily surrendered the claim upon learning of retrospective amendment. Since the claim was bona fide and transparent, penalty under section 270A was unsustainable, following Yahoo India precedent that genuine legal interpretations, even if later rejected, do not constitute under-reporting. en-us Thu, 24 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769537 ITAT Ahmedabad allowed the assessee's appeal against penalty levied under section 270A for disallowance of Health and Education Cess deduction. The tribunal held that the claim was made based on existing legal interpretation with full disclosure of facts and no concealment. The assessee voluntarily surrendered the claim upon learning of retrospective amendment. Since the claim was bona fide and transparent, penalty under section 270A was unsustainable, following Yahoo India precedent that genuine legal interpretations, even if later rejected, do not constitute under-reporting. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769537