https://www.taxtmi.com/caselaws?id=205084 The High Court allowed the appeal, ruling in favor of the assessee on both issues. It held that the claim under section 80HHC in the revised return was bona fide, supported by an auditor's certificate, and not an attempt to defraud the Revenue. The Court emphasized that making an incorrect claim in law does not constitute furnishing inaccurate particulars. The imposition of penalty under section 271(1)(c) was deemed unjustified as there was no evidence of concealment or inaccuracies. The Court set aside the Tribunal's decision and upheld the CIT(A)'s cancellation of the penalty. en-us Wed, 04 May 2011 00:00:00 +0530 Fri, 22 Jul 2011 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205084 The High Court allowed the appeal, ruling in favor of the assessee on both issues. It held that the claim under section 80HHC in the revised return was bona fide, supported by an auditor's certificate, and not an attempt to defraud the Revenue. The Court emphasized that making an incorrect claim in law does not constitute furnishing inaccurate particulars. The imposition of penalty under section 271(1)(c) was deemed unjustified as there was no evidence of concealment or inaccuracies. The Court set aside the Tribunal's decision and upheld the CIT(A)'s cancellation of the penalty. Case-Laws Income Tax Wed, 04 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205084