No Penalty on Trust for Bona Fide Error of claiming building construction expenses

Shree Gunatit Jyot Mahila Trust Vs ITO (ITAT Ahmedabad)

In the case of Shree Gunatit Jyot Mahila Trust Vs ITO, the ITAT Ahmedabad ruled in favor of the trust, canceling the penalty imposed under Section 271(1)(c) of the Income Tax Act. The trust, registered under the Bombay Public Trust Act and Section 12A of the Income Tax Act, had claimed a deduction for building construction expenses under Section 11(1)

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