https://www.taxtmi.com/caselaws?id=326828 The Tribunal set aside the penalty imposed under section 271(1)(c) on the assessee for claiming exemption on interest income from non-resident deposits. The Tribunal held that even if the claim for exemption was incorrect, it did not amount to furnishing inaccurate particulars of income. Referring to a Supreme Court judgment, the Tribunal emphasized that making a claim for exemption does not constitute providing inaccurate particulars. The decision focused on the interpretation of tax provisions and the distinction between inaccurate particulars and erroneous claims for exemption. en-us Fri, 01 Apr 2016 00:00:00 +0530 Tue, 26 Apr 2016 10:27:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326828 The Tribunal set aside the penalty imposed under section 271(1)(c) on the assessee for claiming exemption on interest income from non-resident deposits. The Tribunal held that even if the claim for exemption was incorrect, it did not amount to furnishing inaccurate particulars of income. Referring to a Supreme Court judgment, the Tribunal emphasized that making a claim for exemption does not constitute providing inaccurate particulars. The decision focused on the interpretation of tax provisions and the distinction between inaccurate particulars and erroneous claims for exemption. Case-Laws Income Tax Fri, 01 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326828