https://www.taxtmi.com/caselaws?id=469443 Penalty under section 270A was held unsustainable where the assessee claimed deduction under section 80IB(10) on facts previously accepted in earlier years. The disallowance arose only because the Assessing Officer found certain eligibility conditions unmet for the year in question; that dispute on deductibility did not, by itself, establish under-reporting, concealment, or false disclosure. As the claim was made on a bona fide and genuine belief without any indication of intent to conceal income, the penalty was deleted in favour of the assessee. en-us Thu, 06 Mar 2025 00:00:00 +0530 Wed, 17 Jun 2026 19:02:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469443 Penalty under section 270A was held unsustainable where the assessee claimed deduction under section 80IB(10) on facts previously accepted in earlier years. The disallowance arose only because the Assessing Officer found certain eligibility conditions unmet for the year in question; that dispute on deductibility did not, by itself, establish under-reporting, concealment, or false disclosure. As the claim was made on a bona fide and genuine belief without any indication of intent to conceal income, the penalty was deleted in favour of the assessee. Case-Laws Income Tax Thu, 06 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469443