https://www.taxtmi.com/highlights?id=72377 Penalty u/s 271(1)(c) - A mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. If the contention of the Revenue is accepted then in case of every Return, where the claim made is not accepted by the AO for any reason, the assessee will invite penalty u/s 271 (1) (C). That is clearly no the intendment of the Legislature. - AT en-us Thu, 05 Oct 2023 13:23:35 +0530 Thu, 05 Oct 2023 13:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72377 Penalty u/s 271(1)(c) - A mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. If the contention of the Revenue is accepted then in case of every Return, where the claim made is not accepted by the AO for any reason, the assessee will invite penalty u/s 271 (1) (C). That is clearly no the intendment of the Legislature. - AT Highlights Income Tax Thu, 05 Oct 2023 13:23:35 +0530 https://www.taxtmi.com/highlights?id=72377