https://www.taxtmi.com/caselaws?id=337552 Penalty under section 271(1)(c) was held not leviable where the assessee had disclosed the relevant investment, dividend income and interest expenditure details, and the disallowance under section 14A arose from computation on the material already on record. No false, incorrect, or erroneous particulars were found in the return. A claim that is not accepted in law, by itself, does not amount to concealment or furnishing inaccurate particulars when the explanation is supported by the record and is bona fide. The penalty was cancelled. en-us Fri, 23 Sep 2016 00:00:00 +0530 Wed, 11 Jan 2017 07:27:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337552 Penalty under section 271(1)(c) was held not leviable where the assessee had disclosed the relevant investment, dividend income and interest expenditure details, and the disallowance under section 14A arose from computation on the material already on record. No false, incorrect, or erroneous particulars were found in the return. A claim that is not accepted in law, by itself, does not amount to concealment or furnishing inaccurate particulars when the explanation is supported by the record and is bona fide. The penalty was cancelled. Case-Laws Income Tax Fri, 23 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337552