https://www.taxtmi.com/caselaws?id=438412 Penalty under section 271(1)(c) could not be sustained where the assessee had fully disclosed the domain registration receipts and the taxability of those receipts as royalty remained debatable. The quantum dispute had already been admitted by the High Court on a substantial question of law, showing that the issue was not finally settled. Mere disallowance of the claim in quantum proceedings did not establish concealment of income or furnishing of inaccurate particulars. The deletion of penalty was therefore upheld. en-us Fri, 26 May 2023 00:00:00 +0530 Tue, 23 Apr 2024 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438412 Penalty under section 271(1)(c) could not be sustained where the assessee had fully disclosed the domain registration receipts and the taxability of those receipts as royalty remained debatable. The quantum dispute had already been admitted by the High Court on a substantial question of law, showing that the issue was not finally settled. Mere disallowance of the claim in quantum proceedings did not establish concealment of income or furnishing of inaccurate particulars. The deletion of penalty was therefore upheld. Case-Laws Income Tax Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438412