https://www.taxtmi.com/caselaws?id=774238 Penalty under section 271(1)(c) could not stand because it was entirely dependent on assessment additions that had already been deleted by the Tribunal, so the foundation for concealment or inaccurate particulars disappeared. The article also notes that a claim of expenses supported by an audit report, even if ultimately unsustainable, does not by itself establish concealment or furnishing of inaccurate particulars. On that basis, the penalty order was set aside and the assessee succeeded. en-us Mon, 30 Jun 2025 00:00:00 +0530 Sat, 05 Jul 2025 08:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774238 Penalty under section 271(1)(c) could not stand because it was entirely dependent on assessment additions that had already been deleted by the Tribunal, so the foundation for concealment or inaccurate particulars disappeared. The article also notes that a claim of expenses supported by an audit report, even if ultimately unsustainable, does not by itself establish concealment or furnishing of inaccurate particulars. On that basis, the penalty order was set aside and the assessee succeeded. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774238