https://www.taxtmi.com/caselaws?id=70086 The Tribunal reversed the CIT(A)'s decision and canceled the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It held that the assessee's claim for depreciation on a vehicle was a genuine legal argument and not a false claim, therefore not amounting to income concealment. The Tribunal emphasized that the rejection of the claim was a legal dispute, not indicative of fraudulent intent. Consequently, the assessee's appeal was successful. en-us Fri, 29 Sep 2000 00:00:00 +0530 Thu, 14 Apr 2011 12:00:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70086 The Tribunal reversed the CIT(A)'s decision and canceled the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. It held that the assessee's claim for depreciation on a vehicle was a genuine legal argument and not a false claim, therefore not amounting to income concealment. The Tribunal emphasized that the rejection of the claim was a legal dispute, not indicative of fraudulent intent. Consequently, the assessee's appeal was successful. Case-Laws Income Tax Fri, 29 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70086