Penalty negated where taxpayer's bona fide s.80P(2)(d) deduction met s.273B burden and s.270A relief applied

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....ITAT allowed the appeal and set aside penalties. The Tribunal held that the assessee's claim for deduction under s.80P(2)(d) (interest from non-co-operative entities) did not ipso facto constitute furnishing of inaccurate particulars and, in any event, the assessee discharged the burden under s.273B by establishing a reasonable and bona fide belief that the deduction was allowable; accordingly penalty under s.271(1)(c) could not be sustained. The Tribunal further held that, even if contested, the assessee was entitled to relief under s.80P(2)(a)(i), and therefore merited benefit of s.270A(6)(a); penalty under s.270A was accordingly negated.....