https://www.taxtmi.com/caselaws?id=389371 The ITAT allowed the appeal, ruling in favor of the assessee, based on the distinction between a wrong claim and inaccurate particulars of income. The penalty imposed under section 271(1)(c) of the Income Tax Act was deleted as making an incorrect claim in law does not amount to furnishing inaccurate particulars of income, as per the Supreme Court's decision in CIT vs Reliance Petroproducts Pvt Ltd. en-us Fri, 18 Oct 2019 00:00:00 +0530 Fri, 06 Dec 2019 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389371 The ITAT allowed the appeal, ruling in favor of the assessee, based on the distinction between a wrong claim and inaccurate particulars of income. The penalty imposed under section 271(1)(c) of the Income Tax Act was deleted as making an incorrect claim in law does not amount to furnishing inaccurate particulars of income, as per the Supreme Court's decision in CIT vs Reliance Petroproducts Pvt Ltd. Case-Laws Income Tax Fri, 18 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389371