https://www.taxtmi.com/caselaws?id=347718 Penalty under section 271(1)(c) was unsustainable where the assessee gave a credible reconciliation showing that the Form 26AS mismatch related to service tax included in gross billing but not part of taxable income. The explanation was supported by verifiable records, and the amount had already been captured through a corresponding disallowance under section 43B, so a further addition would have amounted to double addition. The Revenue did not disprove the explanation, and the penalty order was also defective because it did not clearly specify the precise limb of concealment or furnishing inaccurate particulars. On these facts, the levy was cancelled. en-us Wed, 06 Sep 2017 00:00:00 +0530 Sat, 09 Sep 2017 09:19:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347718 Penalty under section 271(1)(c) was unsustainable where the assessee gave a credible reconciliation showing that the Form 26AS mismatch related to service tax included in gross billing but not part of taxable income. The explanation was supported by verifiable records, and the amount had already been captured through a corresponding disallowance under section 43B, so a further addition would have amounted to double addition. The Revenue did not disprove the explanation, and the penalty order was also defective because it did not clearly specify the precise limb of concealment or furnishing inaccurate particulars. On these facts, the levy was cancelled. Case-Laws Income Tax Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347718