https://www.taxtmi.com/caselaws?id=265467 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act for filing inaccurate particulars of income. The penalty amount was calculated based on the disallowed amount of Rs. 6,64,384. The Tribunal rejected the assessee's arguments regarding the bonafide nature of the claim and procedural issues. The decision underscores the significance of accurate and bonafide claims in tax filings and the repercussions of not meeting statutory criteria. en-us Mon, 07 Sep 2015 00:00:00 +0530 Mon, 12 Oct 2015 06:12:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265467 The Tribunal upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act for filing inaccurate particulars of income. The penalty amount was calculated based on the disallowed amount of Rs. 6,64,384. The Tribunal rejected the assessee's arguments regarding the bonafide nature of the claim and procedural issues. The decision underscores the significance of accurate and bonafide claims in tax filings and the repercussions of not meeting statutory criteria. Case-Laws Income Tax Mon, 07 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265467