https://www.taxtmi.com/caselaws?id=784835 Whether penalty under s.271(1)(c) could be levied where AO, pursuant to CIT(A) order, recomputed total income at nil. Reasoning: s.271(1)(c) applies to concealment of income or furnishing inaccurate particulars; where AO's own revised assessment records the assessee's income as nil, there is no concealed income or inaccurate particulars to sustain penal liability. Outcome: penalty under s.271(1)(c) quashed and not sustainable. en-us Mon, 19 May 2025 00:00:00 +0530 Tue, 13 Jan 2026 08:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784835 Whether penalty under s.271(1)(c) could be levied where AO, pursuant to CIT(A) order, recomputed total income at nil. Reasoning: s.271(1)(c) applies to concealment of income or furnishing inaccurate particulars; where AO's own revised assessment records the assessee's income as nil, there is no concealed income or inaccurate particulars to sustain penal liability. Outcome: penalty under s.271(1)(c) quashed and not sustainable. Case-Laws Income Tax Mon, 19 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784835