https://www.taxtmi.com/caselaws?id=777402 Penalty under section 271(1)(c) was considered for a charitable trust's depreciation claim on assets already treated as application of income. The analysis treated the claim as a possible double deduction, but emphasised that quantum disallowance and penalty proceedings are distinct and that a mere addition in assessment does not automatically establish concealment or inaccurate particulars. Section 11(6) was noted in the Revenue's stand, but the decisive point remained the absence of automatic penal consequence from the disallowance alone. On that basis, the penalty was deleted in favour of the assessee. en-us Thu, 09 Jan 2025 00:00:00 +0530 Fri, 29 Aug 2025 08:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777402 Penalty under section 271(1)(c) was considered for a charitable trust's depreciation claim on assets already treated as application of income. The analysis treated the claim as a possible double deduction, but emphasised that quantum disallowance and penalty proceedings are distinct and that a mere addition in assessment does not automatically establish concealment or inaccurate particulars. Section 11(6) was noted in the Revenue's stand, but the decisive point remained the absence of automatic penal consequence from the disallowance alone. On that basis, the penalty was deleted in favour of the assessee. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777402