Ignorance of amended law can be an excuse; concealment penalty unjustified if relief claimed wrongly

IT : Where assessee, a co-operative society engaged in business of banking, claimed deduction under section 80P(2) and Assessing Officer disallowed claim of deduction and also levied penalty under section 271(1)(c) upon assessee on plea that it had intentionally claimed inadmissible deduction to reduce taxable income, since claim for deduction had been a matter of bona fide mistake, levy of penalty was not justified