https://www.taxtmi.com/caselaws?id=362492 Penalty under section 271(1)(c) was held unsustainable where the assessee had disclosed enhanced compensation and the related NABARD bond investment in the return and supporting records. The compensation arose during pending litigation, the award remained stayed by the High Court, and the taxability of enhanced compensation was debatable at the relevant time. On these facts, the omission could not be characterised as concealment of income or furnishing of inaccurate particulars, so deletion of the penalty was upheld in favour of the assessee. en-us Mon, 25 Jun 2018 00:00:00 +0530 Wed, 27 Jun 2018 08:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362492 Penalty under section 271(1)(c) was held unsustainable where the assessee had disclosed enhanced compensation and the related NABARD bond investment in the return and supporting records. The compensation arose during pending litigation, the award remained stayed by the High Court, and the taxability of enhanced compensation was debatable at the relevant time. On these facts, the omission could not be characterised as concealment of income or furnishing of inaccurate particulars, so deletion of the penalty was upheld in favour of the assessee. Case-Laws Income Tax Mon, 25 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362492