https://www.taxtmi.com/caselaws?id=270462 The High Court dismissed the appeals challenging the deletion of penalty imposed under Section 271(1)(c) of the Tax Act. The court held that the disallowance of deductions does not automatically imply inaccurate particulars or concealment of income. It clarified that inaccurate particulars refer to false or incorrect details in the return, which was not the case here. Relying on Supreme Court precedents, the court emphasized that making a legally unsustainable claim does not constitute furnishing inaccurate particulars. Consequently, the penalty imposition was deemed unsustainable, and the penalty deletion was upheld. en-us Tue, 08 Dec 2015 00:00:00 +0530 Wed, 06 Jan 2016 23:44:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270462 The High Court dismissed the appeals challenging the deletion of penalty imposed under Section 271(1)(c) of the Tax Act. The court held that the disallowance of deductions does not automatically imply inaccurate particulars or concealment of income. It clarified that inaccurate particulars refer to false or incorrect details in the return, which was not the case here. Relying on Supreme Court precedents, the court emphasized that making a legally unsustainable claim does not constitute furnishing inaccurate particulars. Consequently, the penalty imposition was deemed unsustainable, and the penalty deletion was upheld. Case-Laws Income Tax Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270462