https://www.taxtmi.com/caselaws?id=201400 Penalty under section 271(1)(c) was not sustainable where the assessee's claim for guest house expenses and treatment of interest income from fixed deposit receipts under section 80HHC was debatable on the date the return was filed. The legal position on the disputed expenditure had not yet been finally settled against the assessee, so the claim could not be characterised as attracting concealment or furnishing of inaccurate particulars. The penalty deletion was therefore left undisturbed, and the appeal was dismissed. en-us Fri, 01 Oct 2010 00:00:00 +0530 Sun, 06 Feb 2011 02:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201400 Penalty under section 271(1)(c) was not sustainable where the assessee's claim for guest house expenses and treatment of interest income from fixed deposit receipts under section 80HHC was debatable on the date the return was filed. The legal position on the disputed expenditure had not yet been finally settled against the assessee, so the claim could not be characterised as attracting concealment or furnishing of inaccurate particulars. The penalty deletion was therefore left undisturbed, and the appeal was dismissed. Case-Laws Income Tax Fri, 01 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201400