https://www.taxtmi.com/caselaws?id=192236 The appeal was dismissed in favor of the assessee. The Tribunal ruled that the claim for exemption under Section 10B was bonafide, despite being debatable at the time of filing. The penalty under Section 271(1)(c) was canceled, as the assessee had disclosed all relevant facts regarding the interest income. The Tribunal emphasized that a claim being found unsustainable does not equate to furnishing inaccurate particulars, citing legal precedents to support their decision. en-us Wed, 21 Aug 2013 00:00:00 +0530 Sat, 20 May 2017 18:52:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192236 The appeal was dismissed in favor of the assessee. The Tribunal ruled that the claim for exemption under Section 10B was bonafide, despite being debatable at the time of filing. The penalty under Section 271(1)(c) was canceled, as the assessee had disclosed all relevant facts regarding the interest income. The Tribunal emphasized that a claim being found unsustainable does not equate to furnishing inaccurate particulars, citing legal precedents to support their decision. Case-Laws Income Tax Wed, 21 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192236