The Tax Publishers2020 TaxPub(DT) 1865 (Pune-Trib)

INCOME TAX ACT, 1961

Section 271(1)(c)

Since disallowance on which penalty was imposed itself was deleted, there remained no basis for sustaining penalty imposed under section 271(1)(c).

Penalty under section 271(1)(c) - Validity - Addition on which penalty was imposed got deleted in appeal proceedings -

Issue was as regards imposition of penalty under section 271(1)(c) due to disallowance of deduction under section 80-IB(10) in respect of a housing project. Held: CIT(A) while deleting penalty, noted that Tribunal in case of assessee, directed AO to allow claim of deduction under section 80-IB(10). Since disallowance on which penalty was imposed itself was deleted, there remained no basis for sustaining the penalty.

REFERRED :

FAVOUR : In assessee's favour

A.Y. :



IN THE ITAT, PUNE BENCH

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