https://www.taxtmi.com/caselaws?id=277817 Penalty was not leviable where the assessee fully disclosed the deduction claim, supporting particulars in the return, tax audit report and computation of income, and the disallowance arose only from the legal treatment of payments under section 43B. A mere rejection of a legal claim does not, by itself, establish concealment of income or furnishing of inaccurate particulars when the underlying facts are true and complete. On that basis, the penalty under section 271(1)(c) was deleted and the Revenue's challenge failed. en-us Wed, 16 Mar 2016 00:00:00 +0530 Wed, 26 Dec 2018 00:38:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277817 Penalty was not leviable where the assessee fully disclosed the deduction claim, supporting particulars in the return, tax audit report and computation of income, and the disallowance arose only from the legal treatment of payments under section 43B. A mere rejection of a legal claim does not, by itself, establish concealment of income or furnishing of inaccurate particulars when the underlying facts are true and complete. On that basis, the penalty under section 271(1)(c) was deleted and the Revenue's challenge failed. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277817