https://www.taxtmi.com/caselaws?id=786170 Penalty under section 271(1)(c) was contested as triggered by an incorrect claim of deduction under section 80IC in the original return. The assessee withdrew the claim by filing a revised return and the tax computed under minimum alternate tax remained higher than normal tax, producing no revenue loss; consequential other additions were deleted on appeal. Applying the principle that assessment under MAT precludes levy of penalty for disallowances in normal provisions, the tribunal found no tax evasion or revenue prejudice and allowed the appeal, setting aside the penalty. en-us Wed, 04 Feb 2026 00:00:00 +0530 Sat, 07 Feb 2026 07:19:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786170 Penalty under section 271(1)(c) was contested as triggered by an incorrect claim of deduction under section 80IC in the original return. The assessee withdrew the claim by filing a revised return and the tax computed under minimum alternate tax remained higher than normal tax, producing no revenue loss; consequential other additions were deleted on appeal. Applying the principle that assessment under MAT precludes levy of penalty for disallowances in normal provisions, the tribunal found no tax evasion or revenue prejudice and allowed the appeal, setting aside the penalty. Case-Laws Income Tax Wed, 04 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786170