https://www.taxtmi.com/caselaws?id=297982 The Tribunal upheld the penalty imposed under section 271(1)(c) by the Assessing Officer and confirmed by the CIT(A), concluding that the assessee furnished inaccurate particulars of income by incorrectly claiming a loss on Birla Index Fund units. The appeal was dismissed, emphasizing that the explanation provided was unsubstantiated and not bonafide, leading to the penalty being upheld. The order was pronounced on November 18, 2011. en-us Fri, 18 Nov 2011 00:00:00 +0530 Mon, 04 Oct 2021 14:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297982 The Tribunal upheld the penalty imposed under section 271(1)(c) by the Assessing Officer and confirmed by the CIT(A), concluding that the assessee furnished inaccurate particulars of income by incorrectly claiming a loss on Birla Index Fund units. The appeal was dismissed, emphasizing that the explanation provided was unsubstantiated and not bonafide, leading to the penalty being upheld. The order was pronounced on November 18, 2011. Case-Laws Income Tax Fri, 18 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297982