https://www.taxtmi.com/caselaws?id=207151 The appeals by the revenue were dismissed, and the deletion of the penalty by the CIT(A) was upheld. The Tribunal found that the revised return was filed voluntarily and based on a bona fide belief, with no concealment or inaccurate particulars furnished. The Tribunal emphasized that making an incorrect claim does not amount to furnishing inaccurate particulars, thereby not attracting penalty under section 271(1)(c). en-us Wed, 09 Mar 2011 00:00:00 +0530 Wed, 28 Sep 2011 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207151 The appeals by the revenue were dismissed, and the deletion of the penalty by the CIT(A) was upheld. The Tribunal found that the revised return was filed voluntarily and based on a bona fide belief, with no concealment or inaccurate particulars furnished. The Tribunal emphasized that making an incorrect claim does not amount to furnishing inaccurate particulars, thereby not attracting penalty under section 271(1)(c). Case-Laws Income Tax Wed, 09 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207151