https://www.taxtmi.com/article/detailed?id=5830 A disclosed claim taken in bona fide belief and explained with factual and legal basis may preclude penalty for alleged concealment; taxpayers must make full and true disclosure in the Return of Income or accompanying documents, use written explanations for contentious claims (including suggested explanatory sheets for e-returns), and be prepared to contest claims rather than withdraw them on preliminary enquiry. The Sania Mirza proceedings illustrate that documented disclosure and adviser mistake led the tribunal to cancel penalty and the High Court to dismiss the department's appeal. en-us Mon, 15 Sep 2014 06:11:00 +0530 Mon, 15 Sep 2014 06:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5830 A disclosed claim taken in bona fide belief and explained with factual and legal basis may preclude penalty for alleged concealment; taxpayers must make full and true disclosure in the Return of Income or accompanying documents, use written explanations for contentious claims (including suggested explanatory sheets for e-returns), and be prepared to contest claims rather than withdraw them on preliminary enquiry. The Sania Mirza proceedings illustrate that documented disclosure and adviser mistake led the tribunal to cancel penalty and the High Court to dismiss the department's appeal. Articles Income Tax Mon, 15 Sep 2014 06:11:00 +0530 https://www.taxtmi.com/article/detailed?id=5830