https://www.taxtmi.com/caselaws?id=754755 ITAT Delhi held that penalty u/s 271(1)(c) was not leviable where assessee inadvertently claimed higher indexed costs of construction and improvement. The tribunal found that mere inadvertent claim of excess indexed costs totaling Rs. 15,82,909/- without any actual benefit to assessee cannot constitute furnishing inaccurate particulars of income. Relying on Reliance Petroproducts case, tribunal ruled that unsustainable claims alone do not warrant penalty. Assessing Officer failed to establish how assessee benefited from such inadvertent claims. Appeal allowed. en-us Thu, 27 Jun 2024 00:00:00 +0530 Sat, 29 Jun 2024 09:02:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754755 ITAT Delhi held that penalty u/s 271(1)(c) was not leviable where assessee inadvertently claimed higher indexed costs of construction and improvement. The tribunal found that mere inadvertent claim of excess indexed costs totaling Rs. 15,82,909/- without any actual benefit to assessee cannot constitute furnishing inaccurate particulars of income. Relying on Reliance Petroproducts case, tribunal ruled that unsustainable claims alone do not warrant penalty. Assessing Officer failed to establish how assessee benefited from such inadvertent claims. Appeal allowed. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754755