https://www.taxtmi.com/caselaws?id=462800 Penalty under section 271(1)(c) was held unsustainable where the corresponding quantum additions had been deleted, because the foundation for concealment or inaccurate particulars disappeared once the additions ceased to exist. Penalty was also deleted on the book profit adjustment under section 115JB relating to remuneration from partnership firms, as the claim was fully disclosed, based on a legal position, and not shown to be false or lacking bona fides. Likewise, penalty on repair expenses treated as capital expenditure was deleted because the assessee had disclosed the claim and the dispute was only over the character of the expenditure, which by itself did not establish concealment. en-us Wed, 24 Aug 2022 00:00:00 +0530 Wed, 16 Jul 2025 23:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462800 Penalty under section 271(1)(c) was held unsustainable where the corresponding quantum additions had been deleted, because the foundation for concealment or inaccurate particulars disappeared once the additions ceased to exist. Penalty was also deleted on the book profit adjustment under section 115JB relating to remuneration from partnership firms, as the claim was fully disclosed, based on a legal position, and not shown to be false or lacking bona fides. Likewise, penalty on repair expenses treated as capital expenditure was deleted because the assessee had disclosed the claim and the dispute was only over the character of the expenditure, which by itself did not establish concealment. Case-Laws Income Tax Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462800