https://www.taxtmi.com/highlights?id=45261 Penalty u/s 271(1)(c) - wrong claim of set off loss - explanation was not found false - no iota of evidence of concealment of any fact relating to particulars of income or furnishing of inaccurate particulars of income - Merely because the assessee had claimed the expenditure, which was not accepted or was not acceptable to the revenue, that by itself would not, attract the penalty u/s 271(1)(c) en-us Tue, 19 Mar 2019 10:40:00 +0530 Tue, 19 Mar 2019 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45261 Penalty u/s 271(1)(c) - wrong claim of set off loss - explanation was not found false - no iota of evidence of concealment of any fact relating to particulars of income or furnishing of inaccurate particulars of income - Merely because the assessee had claimed the expenditure, which was not accepted or was not acceptable to the revenue, that by itself would not, attract the penalty u/s 271(1)(c) Highlights Income Tax Tue, 19 Mar 2019 10:40:00 +0530 https://www.taxtmi.com/highlights?id=45261