https://www.taxtmi.com/caselaws?id=766918 Mere disallowance of an expense claim made on the basis of the return and accounts, without concealment of income or furnishing of inaccurate particulars, does not attract penalty under section 271(1)(c) of the Income-tax Act, 1961. Where a trust's claimed expenditure toward its objects was disallowed after denial of exemption under section 11, the resulting addition was treated as a claim-related adjustment rather than suppression of income, so the penalty was not sustainable and was cancelled. en-us Tue, 04 Mar 2025 00:00:00 +0530 Thu, 06 Mar 2025 07:35:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766918 Mere disallowance of an expense claim made on the basis of the return and accounts, without concealment of income or furnishing of inaccurate particulars, does not attract penalty under section 271(1)(c) of the Income-tax Act, 1961. Where a trust's claimed expenditure toward its objects was disallowed after denial of exemption under section 11, the resulting addition was treated as a claim-related adjustment rather than suppression of income, so the penalty was not sustainable and was cancelled. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766918