https://www.taxtmi.com/caselaws?id=203750 Penalty under section 271(1)(c) was held unsustainable where the assessee's claim on the taxability of enhanced compensation was bona fide and the year of taxability was debatable. The authorities found no concealment of income and no furnishing of inaccurate particulars; the assessee had merely advanced a plausible view that the enhanced compensation had not attained finality. In these circumstances, and consistent with earlier cases on the same issue, the Revenue could not justify penalty. en-us Wed, 05 Jan 2011 00:00:00 +0530 Thu, 16 Jun 2011 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203750 Penalty under section 271(1)(c) was held unsustainable where the assessee's claim on the taxability of enhanced compensation was bona fide and the year of taxability was debatable. The authorities found no concealment of income and no furnishing of inaccurate particulars; the assessee had merely advanced a plausible view that the enhanced compensation had not attained finality. In these circumstances, and consistent with earlier cases on the same issue, the Revenue could not justify penalty. Case-Laws Income Tax Wed, 05 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203750