https://www.taxtmi.com/caselaws?id=325238 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under Section 271(1)(c) of the Income Tax Act, 1961. The assessee had not concealed income or furnished inaccurate particulars. The Tribunal emphasized that the issues were debatable, and the assessee's claims were made in good faith based on legal advice. The penalties were dismissed, highlighting that making unsustainable claims does not constitute furnishing inaccurate particulars, especially in cases of debatable interpretations. en-us Fri, 11 Mar 2016 00:00:00 +0530 Mon, 14 Mar 2016 12:15:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325238 The Tribunal upheld the CIT(A)'s decision to delete penalties imposed under Section 271(1)(c) of the Income Tax Act, 1961. The assessee had not concealed income or furnished inaccurate particulars. The Tribunal emphasized that the issues were debatable, and the assessee's claims were made in good faith based on legal advice. The penalties were dismissed, highlighting that making unsustainable claims does not constitute furnishing inaccurate particulars, especially in cases of debatable interpretations. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325238