https://www.taxtmi.com/caselaws?id=214716 The ITAT dismissed the Revenue's appeal against the deletion of penalty under section 271(1)(c) by the CIT (A) in a case involving the addition of additional depreciation. The ITAT upheld the deletion of the penalty, emphasizing that the claim for additional depreciation was based on a valid certificate and was considered debatable, following the principle that an unsustainable claim does not constitute inaccurate particulars of income. The ITAT concluded that the addition of income does not automatically imply concealment, distinguishing the case from precedents where claims lacked a bonafide belief. en-us Thu, 31 May 2012 00:00:00 +0530 Fri, 29 Jun 2012 19:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214716 The ITAT dismissed the Revenue's appeal against the deletion of penalty under section 271(1)(c) by the CIT (A) in a case involving the addition of additional depreciation. The ITAT upheld the deletion of the penalty, emphasizing that the claim for additional depreciation was based on a valid certificate and was considered debatable, following the principle that an unsustainable claim does not constitute inaccurate particulars of income. The ITAT concluded that the addition of income does not automatically imply concealment, distinguishing the case from precedents where claims lacked a bonafide belief. Case-Laws Income Tax Thu, 31 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214716