https://www.taxtmi.com/caselaws?id=207975 The Tribunal upheld the penalty under section 271(1)(c) against the assessee for furnishing inaccurate particulars of income, amounting to Rs. 4 crores. Despite the assessee's claim of a computer mistake, the Tribunal found the inaccuracies deliberate and not rectified, deeming the explanation false. Emphasizing the need for substantiated explanations and citing relevant legal precedents, the Tribunal concluded that penalties must be imposed when inaccurate particulars are furnished, reversing the decision of the Commissioner of Income-tax (Appeals) and confirming the penalty order. en-us Fri, 23 Apr 2010 00:00:00 +0530 Thu, 30 May 2013 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207975 The Tribunal upheld the penalty under section 271(1)(c) against the assessee for furnishing inaccurate particulars of income, amounting to Rs. 4 crores. Despite the assessee's claim of a computer mistake, the Tribunal found the inaccuracies deliberate and not rectified, deeming the explanation false. Emphasizing the need for substantiated explanations and citing relevant legal precedents, the Tribunal concluded that penalties must be imposed when inaccurate particulars are furnished, reversing the decision of the Commissioner of Income-tax (Appeals) and confirming the penalty order. Case-Laws Income Tax Fri, 23 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207975