https://www.taxtmi.com/caselaws?id=328151 Penalty under section 271(1)(c) was held unsustainable where the assessee disclosed all primary facts and made a treaty-based exemption claim under the India-USA DTAA on residential status and salary income. The mere disallowance of that claim in assessment did not establish concealment or furnishing of inaccurate particulars, because an unsuccessful but bona fide claim is not enough to justify penalty without contumacious or dishonest conduct. The penalty was deleted and the issue was decided in favour of the assessee. en-us Thu, 05 May 2016 00:00:00 +0530 Sat, 04 Jun 2016 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328151 Penalty under section 271(1)(c) was held unsustainable where the assessee disclosed all primary facts and made a treaty-based exemption claim under the India-USA DTAA on residential status and salary income. The mere disallowance of that claim in assessment did not establish concealment or furnishing of inaccurate particulars, because an unsuccessful but bona fide claim is not enough to justify penalty without contumacious or dishonest conduct. The penalty was deleted and the issue was decided in favour of the assessee. Case-Laws Income Tax Thu, 05 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328151