Depreciation and routine compliance expenses disallowance did not prove inaccurate particulars or misreporting; penalty sustained only on foreign trav...
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A bona fide excessive claim of donation exemption, made with full disclosure of facts, does not by itself establish under-reporting, misreporting, or inaccurate particulars for penalty purposes. The text distinguishes an unsustainable legal claim from furnishing inaccurate particulars and notes that penalty proceedings are separate from assessment proceedings. It also highlights that a penalty initiated for misreporting but levied for under-reporting lacked supporting material showing mala fides. Applying the principles that inadvertent human errors and incorrect legal claims do not attract penalty where facts are fully disclosed, the section 270A penalty was described as unsustainable and deleted.
A bona fide excessive claim of donation exemption, made with full disclosure of facts, does not by itself establish under-reporting, misreporting, or inaccurate particulars for penalty purposes. The text distinguishes an unsustainable legal claim from furnishing inaccurate particulars and notes that penalty proceedings are separate from assessment proceedings. It also highlights that a penalty initiated for misreporting but levied for under-reporting lacked supporting material showing mala fides. Applying the principles that inadvertent human errors and incorrect legal claims do not attract penalty where facts are fully disclosed, the section 270A penalty was described as unsustainable and deleted.
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