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2016 (5) TMI 1371 - ITAT CHANDIGARHLevy of penalty under section 271(1)(c) - claim of deduction under section 10B - Held that:- No findings have been given by the authorities below that assessee made incorrect or erroneous or false claim for claiming deduction under section 10B of the Income Tax Act. Therefore, we are of the view that assessee did not furnish inaccurate particulars of income in the return of income with regard to claim of deduction under section 10B of the Act on account of sale of incentives under Vishesh Krishi Upaj Yojna so as to attract provisions of Section 271(1)(c) of the Act. - Decided in favour of assessee.
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