https://www.taxtmi.com/caselaws?id=238237 The SC upheld the ITAT, CIT(A), and HC decisions dismissing penalty under section 271(1)(c) for concealment of income. The court ruled that merely making an unsustainable legal claim in the return does not constitute furnishing inaccurate particulars or concealment of income. Where no details supplied by the assessee are found incorrect, erroneous, or false, penalty provisions cannot be invoked. The decision favored the assessee, establishing that unsubstantiated claims alone do not warrant penalty imposition. en-us Fri, 11 Oct 2013 00:00:00 +0530 Sat, 10 May 2025 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238237 The SC upheld the ITAT, CIT(A), and HC decisions dismissing penalty under section 271(1)(c) for concealment of income. The court ruled that merely making an unsustainable legal claim in the return does not constitute furnishing inaccurate particulars or concealment of income. Where no details supplied by the assessee are found incorrect, erroneous, or false, penalty provisions cannot be invoked. The decision favored the assessee, establishing that unsubstantiated claims alone do not warrant penalty imposition. Case-Laws Income Tax Fri, 11 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238237