https://www.taxtmi.com/caselaws?id=189711 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty imposed by the AO for the assessment year 1999-2000. The Tribunal held that a mere rejection of a legal claim for taxability of income does not warrant a penalty under section 271(1)(c) of the Act unless the details supplied in the return are inaccurate or false. Making an unsustainable legal claim does not amount to furnishing inaccurate particulars, leading to the conclusion that the penalty was not justified in this case. en-us Wed, 24 Aug 2011 00:00:00 +0530 Wed, 18 Jan 2017 10:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189711 The Tribunal dismissed the Revenue's appeal, upholding the deletion of the penalty imposed by the AO for the assessment year 1999-2000. The Tribunal held that a mere rejection of a legal claim for taxability of income does not warrant a penalty under section 271(1)(c) of the Act unless the details supplied in the return are inaccurate or false. Making an unsustainable legal claim does not amount to furnishing inaccurate particulars, leading to the conclusion that the penalty was not justified in this case. Case-Laws Income Tax Wed, 24 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189711