https://www.taxtmi.com/caselaws?id=280737 The High Court dismissed the Revenue's appeal challenging the cancellation of penalty under Section 271(1)(c) of the Income-tax Act, 1961. The Court held that making an unsustainable claim does not constitute furnishing inaccurate particulars, as per the judgment in CIT v. Reliance Petro Products Pvt. Ltd. The Court also ruled that an unjustified claim does not amount to furnishing inaccurate particulars for penalty purposes. It concluded that no substantial question of law arose, affirming the Tribunal's decision and emphasizing the settled legal position on the issues discussed. en-us Tue, 13 Mar 2018 00:00:00 +0530 Sun, 19 May 2019 12:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280737 The High Court dismissed the Revenue's appeal challenging the cancellation of penalty under Section 271(1)(c) of the Income-tax Act, 1961. The Court held that making an unsustainable claim does not constitute furnishing inaccurate particulars, as per the judgment in CIT v. Reliance Petro Products Pvt. Ltd. The Court also ruled that an unjustified claim does not amount to furnishing inaccurate particulars for penalty purposes. It concluded that no substantial question of law arose, affirming the Tribunal's decision and emphasizing the settled legal position on the issues discussed. Case-Laws Income Tax Tue, 13 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280737