https://www.taxtmi.com/caselaws?id=777482 ITAT held that an incorrect legal claim in the original return, later corrected, did not amount to concealment of income or furnishing of inaccurate particulars under s.271(1)(c). Relying on SC authority distinguishing wrong legal position from concealment, the Tribunal found revenue failed to establish evasion or concealment and deleted the penalty confirmed by CIT(A). The appeal was allowed and the penalty under s.271(1)(c) set aside. en-us Thu, 09 Jan 2025 00:00:00 +0530 Sat, 30 Aug 2025 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777482 ITAT held that an incorrect legal claim in the original return, later corrected, did not amount to concealment of income or furnishing of inaccurate particulars under s.271(1)(c). Relying on SC authority distinguishing wrong legal position from concealment, the Tribunal found revenue failed to establish evasion or concealment and deleted the penalty confirmed by CIT(A). The appeal was allowed and the penalty under s.271(1)(c) set aside. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777482