https://www.taxtmi.com/caselaws?id=208950 The High Court upheld the Tribunal's decision to set aside the penalty imposed under section 271(1)(c) for assessment year 1997-98. The Court emphasized that deliberate furnishing of inaccurate particulars with misleading intent is necessary for penalty imposition. As the appellant had disclosed all relevant facts during assessment, provided accurate information, and acted in accordance with the law, the penalty was deemed unwarranted. The Court affirmed that mere unsustainable claims do not warrant penalty under section 271(1)(c) and dismissed the appeal, finding no substantial question of law involved. en-us Mon, 27 Sep 2010 00:00:00 +0530 Fri, 03 Feb 2012 23:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208950 The High Court upheld the Tribunal's decision to set aside the penalty imposed under section 271(1)(c) for assessment year 1997-98. The Court emphasized that deliberate furnishing of inaccurate particulars with misleading intent is necessary for penalty imposition. As the appellant had disclosed all relevant facts during assessment, provided accurate information, and acted in accordance with the law, the penalty was deemed unwarranted. The Court affirmed that mere unsustainable claims do not warrant penalty under section 271(1)(c) and dismissed the appeal, finding no substantial question of law involved. Case-Laws Income Tax Mon, 27 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208950