https://www.taxtmi.com/caselaws?id=273165 Penalty under section 271(1)(c) was held not leviable where the additions and disallowances were materially similar to those examined in the assessee's earlier years. The governing principle applied was that penalty requires concealment of income or furnishing of inaccurate particulars, and a claim rejected in law does not by itself establish concealment. As identical penalty issues had already been deleted in the assessee's own case on the same reasoning, judicial consistency was followed and the penalty deletion was upheld. en-us Wed, 24 May 2017 00:00:00 +0530 Sat, 09 Jun 2018 07:35:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273165 Penalty under section 271(1)(c) was held not leviable where the additions and disallowances were materially similar to those examined in the assessee's earlier years. The governing principle applied was that penalty requires concealment of income or furnishing of inaccurate particulars, and a claim rejected in law does not by itself establish concealment. As identical penalty issues had already been deleted in the assessee's own case on the same reasoning, judicial consistency was followed and the penalty deletion was upheld. Case-Laws Income Tax Wed, 24 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273165