https://www.taxtmi.com/caselaws?id=270997 The High Court upheld the decision of the Commissioner of Income Tax and the Tribunal, ruling that the non-furnishing of an explanation by the assessee did not constitute concealment for penalty proceedings under Section 271(1)(c) of the Income Tax Act. The court emphasized the distinction between inaccurate particulars and incorrect claims, highlighting that unless there was evidence of deliberate concealment or evasion, penalties were not warranted solely based on incorrect explanations. The appeal was rejected, with the court finding no substantial question of law for consideration. en-us Mon, 18 Jan 2016 00:00:00 +0530 Fri, 22 Jan 2016 09:56:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270997 The High Court upheld the decision of the Commissioner of Income Tax and the Tribunal, ruling that the non-furnishing of an explanation by the assessee did not constitute concealment for penalty proceedings under Section 271(1)(c) of the Income Tax Act. The court emphasized the distinction between inaccurate particulars and incorrect claims, highlighting that unless there was evidence of deliberate concealment or evasion, penalties were not warranted solely based on incorrect explanations. The appeal was rejected, with the court finding no substantial question of law for consideration. Case-Laws Income Tax Mon, 18 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270997