https://www.taxtmi.com/caselaws?id=332645 The Tribunal ruled in favor of the assessee in three appeals concerning penalties under Section 271(1)(c) of the Income Tax Act for AYs 1995-96, 2002-03, and 2004-05. The Tribunal held that the assessee did not furnish inaccurate particulars or conceal income, emphasizing that making an unsustainable claim does not constitute providing inaccurate particulars. Consequently, the penalties were deleted in all three cases, following the Supreme Court's precedent. en-us Thu, 11 Aug 2016 00:00:00 +0530 Thu, 22 Sep 2016 13:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332645 The Tribunal ruled in favor of the assessee in three appeals concerning penalties under Section 271(1)(c) of the Income Tax Act for AYs 1995-96, 2002-03, and 2004-05. The Tribunal held that the assessee did not furnish inaccurate particulars or conceal income, emphasizing that making an unsustainable claim does not constitute providing inaccurate particulars. Consequently, the penalties were deleted in all three cases, following the Supreme Court's precedent. Case-Laws Income Tax Thu, 11 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332645