https://www.taxtmi.com/caselaws?id=781449 ITAT MUMBAI - AT held that deduction under s.35D, once allowed in the initial year, could not be denied in subsequent years; thus the assessee's claim for share-issue/expansion expenses in later years was sustainable. The Tribunal found no evidence that particulars in the return were incorrect or false and applied SC precedent that an unsustainable claim alone does not constitute furnishing inaccurate particulars. Consequently the penalty under s.271(1)(c) was deleted and the appeal was decided against the revenue. en-us Tue, 11 Nov 2025 00:00:00 +0530 Sat, 15 Nov 2025 07:56:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781449 ITAT MUMBAI - AT held that deduction under s.35D, once allowed in the initial year, could not be denied in subsequent years; thus the assessee's claim for share-issue/expansion expenses in later years was sustainable. The Tribunal found no evidence that particulars in the return were incorrect or false and applied SC precedent that an unsustainable claim alone does not constitute furnishing inaccurate particulars. Consequently the penalty under s.271(1)(c) was deleted and the appeal was decided against the revenue. Case-Laws Income Tax Tue, 11 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781449