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2021 (1) TMI 292 - ITAT INDOREPenalty u/s 271(1)(c) - allegation that, assessee making incorrect claim of deduction u/s 80P thus furnishing of inaccurate particulars of income - HELD THAT:- We observe that similar issue under identical facts has came up before this Tribunal in assessee’s own case for Assessment Year 2011-12 and revenue’s appeal was dismissed and the finding of Ld. CIT(A) deleting the penalty levied u/s 271(1)(c) held that bona fide of the assessee in claiming the deduction cannot be disputed and therefore, the penalty imposed should be cancelled. In this situation, we are inclined to hold that since appeal of the assessee on this issue which is pending for decision before Hon'ble High Court till disposal of such appeal bona fide in claiming deduction u/s. 80P of the Act cannot be ruled out and hence penalty u/s 271(1)(c) of the Act cannot be sustained and only on this count penalty deserves to be deleted. Decided against revenue.
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