https://www.taxtmi.com/caselaws?id=77426 The High Court upheld the decision of the ITAT, ruling in favor of the respondent-assessee. It found that the assessee had made full disclosure in the income tax return and provided a bona fide explanation, leading to the deletion of the penalty. The Court emphasized that merely making an unsustainable claim does not constitute furnishing inaccurate particulars of income. The appeal was dismissed, affirming the ITAT's decision. en-us Fri, 06 Aug 2010 00:00:00 +0530 Tue, 14 Sep 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77426 The High Court upheld the decision of the ITAT, ruling in favor of the respondent-assessee. It found that the assessee had made full disclosure in the income tax return and provided a bona fide explanation, leading to the deletion of the penalty. The Court emphasized that merely making an unsustainable claim does not constitute furnishing inaccurate particulars of income. The appeal was dismissed, affirming the ITAT's decision. Case-Laws Income Tax Fri, 06 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77426