https://www.taxtmi.com/caselaws?id=280728 The Tribunal ruled in favor of the assessee in cross-appeals against the denial of deduction under section 80P(2)(a)(i) of the Income Tax Act and the provision made for overdue interest. The Tribunal held that the assessee's claims did not amount to concealment of income or filing inaccurate particulars, following the precedent set by the Supreme Court. It emphasized that making a claim, even if legally unsustainable, does not constitute furnishing inaccurate particulars. Consequently, the Tribunal dismissed the Revenue's appeal and allowed the appeal filed by the assessee, highlighting the need to differentiate between legal claims and deliberate concealment or inaccuracies in income reporting. en-us Fri, 23 Dec 2016 00:00:00 +0530 Sun, 19 May 2019 12:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280728 The Tribunal ruled in favor of the assessee in cross-appeals against the denial of deduction under section 80P(2)(a)(i) of the Income Tax Act and the provision made for overdue interest. The Tribunal held that the assessee's claims did not amount to concealment of income or filing inaccurate particulars, following the precedent set by the Supreme Court. It emphasized that making a claim, even if legally unsustainable, does not constitute furnishing inaccurate particulars. Consequently, the Tribunal dismissed the Revenue's appeal and allowed the appeal filed by the assessee, highlighting the need to differentiate between legal claims and deliberate concealment or inaccuracies in income reporting. Case-Laws Income Tax Fri, 23 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280728