https://www.taxtmi.com/caselaws?id=349009 The Tribunal allowed the Assessee's appeal, deleting the penalty under section 271(1)(c) of the Income Tax Act. The decision was based on the principle that a possible view on the eligibility of an amount for deduction, even if not accepted, does not amount to concealment of income or furnishing inaccurate particulars, as long as all relevant details are disclosed. The Tribunal emphasized that penalty is not automatically attracted by a claim that is not legally sustainable, especially when the Assessee has provided all necessary details and the eligibility of the claim is debatable. en-us Fri, 22 Sep 2017 00:00:00 +0530 Thu, 05 Oct 2017 09:44:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349009 The Tribunal allowed the Assessee's appeal, deleting the penalty under section 271(1)(c) of the Income Tax Act. The decision was based on the principle that a possible view on the eligibility of an amount for deduction, even if not accepted, does not amount to concealment of income or furnishing inaccurate particulars, as long as all relevant details are disclosed. The Tribunal emphasized that penalty is not automatically attracted by a claim that is not legally sustainable, especially when the Assessee has provided all necessary details and the eligibility of the claim is debatable. Case-Laws Income Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349009