https://www.taxtmi.com/caselaws?id=311265 ITAT addressed a tax penalty case involving process loss disallowance for 2013-14. The tribunal found that merely rejecting an expense claim does not automatically constitute furnishing inaccurate income particulars under section 271(1)(c). Citing legal precedents, ITAT deleted the penalty imposed by lower authorities, ruling in favor of the assessee and emphasizing that an unsustainable claim does not inherently warrant punitive action. en-us Fri, 17 Sep 2021 00:00:00 +0530 Sat, 10 May 2025 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311265 ITAT addressed a tax penalty case involving process loss disallowance for 2013-14. The tribunal found that merely rejecting an expense claim does not automatically constitute furnishing inaccurate income particulars under section 271(1)(c). Citing legal precedents, ITAT deleted the penalty imposed by lower authorities, ruling in favor of the assessee and emphasizing that an unsustainable claim does not inherently warrant punitive action. Case-Laws Income Tax Fri, 17 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311265