https://www.taxtmi.com/caselaws?id=208848 The Tribunal upheld the penalty under section 271(1)(c) for furnishing inaccurate income particulars, dismissing the appeal and confirming the Commissioner (Appeals) order. The Tribunal deemed the claims speculative, legally incorrect, and lacking basis, concluding they were not debatable. The assessee's attempts to claim deductions for doubtful debts, diminution in investment value, premium on debenture redemption, and goodwill depreciation were found invalid, leading to the penalty confirmation. en-us Fri, 30 Sep 2011 00:00:00 +0530 Thu, 28 Jul 2016 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208848 The Tribunal upheld the penalty under section 271(1)(c) for furnishing inaccurate income particulars, dismissing the appeal and confirming the Commissioner (Appeals) order. The Tribunal deemed the claims speculative, legally incorrect, and lacking basis, concluding they were not debatable. The assessee's attempts to claim deductions for doubtful debts, diminution in investment value, premium on debenture redemption, and goodwill depreciation were found invalid, leading to the penalty confirmation. Case-Laws Income Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208848