https://www.taxtmi.com/caselaws?id=11483 The High Court reinstated penalties under sections 271(1)(c) and 273(2)(a) of the Income-tax Act against the assessee, a private limited company. The court held that the assessee deliberately furnished inaccurate particulars and false claims regarding deductions for capital expenditures not used for scientific research. The Court found the ITAT's decision to cancel the penalties unsupported by evidence, labeling it as perverse and erroneous. Consequently, the cancellation of penalties was deemed unsustainable, ruling in favor of the Revenue and against the assessee. en-us Tue, 31 Dec 2002 00:00:00 +0530 Mon, 10 Aug 2009 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11483 The High Court reinstated penalties under sections 271(1)(c) and 273(2)(a) of the Income-tax Act against the assessee, a private limited company. The court held that the assessee deliberately furnished inaccurate particulars and false claims regarding deductions for capital expenditures not used for scientific research. The Court found the ITAT's decision to cancel the penalties unsupported by evidence, labeling it as perverse and erroneous. Consequently, the cancellation of penalties was deemed unsustainable, ruling in favor of the Revenue and against the assessee. Case-Laws Income Tax Tue, 31 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11483