https://www.taxtmi.com/caselaws?id=785230 Change in accounting treatment for operating lease rentals was disclosed in audited accounts and reflected a permissible alternative interpretation under the accounting standard for leases; because two plausible views existed, the revised lease rental deduction was a bona fide accounting choice and not furnishing of inaccurate particulars. The tribunal distinguished criteria for making assessment additions from the standard for imposing penalty for concealment or inaccurate particulars, finding the assessees explanation credible and figures disclosed, and consequently the penalty for furnishing inaccurate particulars was quashed. en-us Fri, 16 Jan 2026 00:00:00 +0530 Tue, 20 Jan 2026 06:31:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785230 Change in accounting treatment for operating lease rentals was disclosed in audited accounts and reflected a permissible alternative interpretation under the accounting standard for leases; because two plausible views existed, the revised lease rental deduction was a bona fide accounting choice and not furnishing of inaccurate particulars. The tribunal distinguished criteria for making assessment additions from the standard for imposing penalty for concealment or inaccurate particulars, finding the assessees explanation credible and figures disclosed, and consequently the penalty for furnishing inaccurate particulars was quashed. Case-Laws Income Tax Fri, 16 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785230