https://www.taxtmi.com/caselaws?id=327636 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)], which deleted the penalty levied under Section 271(1)(c) of the Income Tax Act. The ITAT concluded that the rejection of a legal claim does not constitute furnishing inaccurate particulars of income. It was found that the assessee had disclosed all relevant particulars, and the Revenue failed to prove any concealment or inaccuracy in the furnished particulars. en-us Wed, 06 Apr 2016 00:00:00 +0530 Fri, 13 May 2016 23:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327636 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)], which deleted the penalty levied under Section 271(1)(c) of the Income Tax Act. The ITAT concluded that the rejection of a legal claim does not constitute furnishing inaccurate particulars of income. It was found that the assessee had disclosed all relevant particulars, and the Revenue failed to prove any concealment or inaccuracy in the furnished particulars. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327636