https://www.taxtmi.com/caselaws?id=203755 The Tribunal upheld the penalty imposed under section 271(1)(c) of the IT Act, confirming that the assessee furnished inaccurate particulars by falsely claiming deductions for foreign trip expenses. The penalty amount was reduced to 100% of the tax sought to be evaded. The disallowance of travelling expenses for trips to London and Paris was upheld as the trips were deemed personal and not related to business activities. The Tribunal concluded that the assessee's explanations were false and misleading, leading to the dismissal of the appeal. en-us Fri, 02 Jul 2010 00:00:00 +0530 Fri, 31 May 2013 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203755 The Tribunal upheld the penalty imposed under section 271(1)(c) of the IT Act, confirming that the assessee furnished inaccurate particulars by falsely claiming deductions for foreign trip expenses. The penalty amount was reduced to 100% of the tax sought to be evaded. The disallowance of travelling expenses for trips to London and Paris was upheld as the trips were deemed personal and not related to business activities. The Tribunal concluded that the assessee's explanations were false and misleading, leading to the dismissal of the appeal. Case-Laws Income Tax Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203755