https://www.taxtmi.com/caselaws?id=769927 Penalty for under-reporting was not attracted where the assessee's deduction claim under section 80-IC had been accepted on merits in earlier years and the present disallowance arose from the same recurring interpretational dispute. The addition was made by following the earlier assessment approach, and the penalty rested mainly on the assessee's failure to challenge the assessment for the year in question. A bona fide legal claim supported by material facts, even if ultimately disallowed, does not by itself show concealment or furnishing of inaccurate particulars. On that basis, deletion of penalty under section 270A was upheld. en-us Tue, 29 Apr 2025 00:00:00 +0530 Sat, 30 Aug 2025 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769927 Penalty for under-reporting was not attracted where the assessee's deduction claim under section 80-IC had been accepted on merits in earlier years and the present disallowance arose from the same recurring interpretational dispute. The addition was made by following the earlier assessment approach, and the penalty rested mainly on the assessee's failure to challenge the assessment for the year in question. A bona fide legal claim supported by material facts, even if ultimately disallowed, does not by itself show concealment or furnishing of inaccurate particulars. On that basis, deletion of penalty under section 270A was upheld. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769927