https://www.taxtmi.com/caselaws?id=187972 The Tribunal concluded that the penalty under section 271(1)(c) of the IT Act was not justified as the income declared in the revised return under section 153A matched the assessment by the Assessing Officer. The Tribunal held that making an incorrect claim does not constitute furnishing inaccurate particulars, citing the Supreme Court's judgment in CIT v. Reliance Petroproducts (P) Ltd. Consequently, the penalty was deleted, and the appeal by the assessee was allowed. en-us Fri, 13 Sep 2013 00:00:00 +0530 Wed, 16 Nov 2016 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187972 The Tribunal concluded that the penalty under section 271(1)(c) of the IT Act was not justified as the income declared in the revised return under section 153A matched the assessment by the Assessing Officer. The Tribunal held that making an incorrect claim does not constitute furnishing inaccurate particulars, citing the Supreme Court's judgment in CIT v. Reliance Petroproducts (P) Ltd. Consequently, the penalty was deleted, and the appeal by the assessee was allowed. Case-Laws Income Tax Fri, 13 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187972