https://www.taxtmi.com/caselaws?id=772946 HC/SC examined penalty imposition under Income Tax Act for double depreciation claim. The court found the error was a clerical mistake made in good faith, not a deliberate attempt to evade tax. Since the assessee voluntarily corrected the error and derived no tax benefit, the penalty under section 271(1)(c) was unjustified. The court upheld CIT(A)'s deletion of penalty, emphasizing penalties should not apply to inadvertent errors without malafide intent. en-us Fri, 13 Jun 2025 00:00:00 +0530 Sat, 14 Jun 2025 12:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772946 HC/SC examined penalty imposition under Income Tax Act for double depreciation claim. The court found the error was a clerical mistake made in good faith, not a deliberate attempt to evade tax. Since the assessee voluntarily corrected the error and derived no tax benefit, the penalty under section 271(1)(c) was unjustified. The court upheld CIT(A)'s deletion of penalty, emphasizing penalties should not apply to inadvertent errors without malafide intent. Case-Laws Income Tax Fri, 13 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772946