https://www.taxtmi.com/caselaws?id=775594 The ITAT set aside the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars, as the appellant's status as a "co-operative society" was upheld by the CIT(A) in the quantum appeal, rendering the penalty basis invalid. The Revenue's challenge to this status was impermissible in the penalty proceedings, and the appellant's claim for deduction under section 80P(2) was accepted. The tribunal held that the benefit of doubt must be given to the appellant in penalty matters, akin to criminal law principles. Consequently, the penalty was deleted in its entirety, and the appeal was partly allowed. en-us Tue, 03 Jun 2025 00:00:00 +0530 Thu, 19 Feb 2026 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775594 The ITAT set aside the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars, as the appellant's status as a "co-operative society" was upheld by the CIT(A) in the quantum appeal, rendering the penalty basis invalid. The Revenue's challenge to this status was impermissible in the penalty proceedings, and the appellant's claim for deduction under section 80P(2) was accepted. The tribunal held that the benefit of doubt must be given to the appellant in penalty matters, akin to criminal law principles. Consequently, the penalty was deleted in its entirety, and the appeal was partly allowed. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775594