[aaykarbhavan] Penalty deleted as deductions claimed were although not allowable yet it were allowed in earlier years

Penalty deleted as deductions claimed were although not allowable yet it were allowed in earlier years

March 29, 2014[2014] 42 taxmann.com 581 (Punjab & Haryana)

IT: Where penalty was imposed on assessee for raising a false claim of deduction under section 80-IB, in view of fact that similar claim had been allowed in earlier years, assessee could not be held guilty of filing inaccurate particulars of income with an object to evade tax and, consequently, impugned penalty order was to be set aside

 

Regards

Prarthana Jalan

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