https://www.taxtmi.com/caselaws?id=71802 Penalty for concealment was held unsustainable where the assessee claimed repair deduction on a bona fide belief that the expense was allowable and that the lessor bore the liability. Although the deduction could be disallowed on merits, the surrounding material showed a plausible basis for the claim, including actual repair expenditure substantially exceeding the amount claimed. On those facts, the omission was not treated as deliberate concealment or furnishing of inaccurate particulars, and cancellation of penalty was upheld in favour of the assessee. en-us Thu, 24 Oct 1991 00:00:00 +0530 Wed, 27 Apr 2011 11:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71802 Penalty for concealment was held unsustainable where the assessee claimed repair deduction on a bona fide belief that the expense was allowable and that the lessor bore the liability. Although the deduction could be disallowed on merits, the surrounding material showed a plausible basis for the claim, including actual repair expenditure substantially exceeding the amount claimed. On those facts, the omission was not treated as deliberate concealment or furnishing of inaccurate particulars, and cancellation of penalty was upheld in favour of the assessee. Case-Laws Income Tax Thu, 24 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71802