https://www.taxtmi.com/caselaws?id=772455 ITAT Pune allowed the assessee's appeal against penalty u/s 271(1)(c) relating to disallowance of leave encashment provision under section 43B(f). The tribunal held that the assessee's claim was made in good faith when the matter was sub-judice and favorable precedent existed before the SC's reversal in Exide Industries case. Relying on Reliance Petroproducts, the tribunal ruled that merely making an unsustainable legal claim does not constitute furnishing inaccurate income particulars. The penalty was deleted as the assessee's position was legally tenable at the time of filing. en-us Wed, 04 Jun 2025 00:00:00 +0530 Mon, 09 Jun 2025 07:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772455 ITAT Pune allowed the assessee's appeal against penalty u/s 271(1)(c) relating to disallowance of leave encashment provision under section 43B(f). The tribunal held that the assessee's claim was made in good faith when the matter was sub-judice and favorable precedent existed before the SC's reversal in Exide Industries case. Relying on Reliance Petroproducts, the tribunal ruled that merely making an unsustainable legal claim does not constitute furnishing inaccurate income particulars. The penalty was deleted as the assessee's position was legally tenable at the time of filing. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772455