https://www.taxtmi.com/caselaws?id=203694 Penalty under Section 271(1)(c) could not be sustained merely because the assessee's claim for depreciation on goodwill was disallowed, since disallowance alone does not establish concealment or furnishing of inaccurate particulars. Repetition of the claim in later years did not make it bogus where no material showed a false claim or suppression of facts. The Tribunal's view that the claim was not bogus was accepted, and penalty was held not leviable. en-us Mon, 16 Aug 2010 00:00:00 +0530 Mon, 13 Jun 2011 07:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203694 Penalty under Section 271(1)(c) could not be sustained merely because the assessee's claim for depreciation on goodwill was disallowed, since disallowance alone does not establish concealment or furnishing of inaccurate particulars. Repetition of the claim in later years did not make it bogus where no material showed a false claim or suppression of facts. The Tribunal's view that the claim was not bogus was accepted, and penalty was held not leviable. Case-Laws Income Tax Mon, 16 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203694