https://www.taxtmi.com/caselaws?id=785794 The dispute addresses imposition of penalty for furnishing inaccurate particulars of income where an assessing officer disallowed interest expense as capital in nature and treated it as revenue expenditure. The tribunal relied on the principle that making an incorrect claim is distinct from furnishing inaccurate particulars and cited precedent to that effect; consequence: the penalty under the relevant provision was not sustainable and the challenge to the penalty was allowed. The tribunal noted the matter on capitalization had attained finality and that the assessee capitalised interest in subsequent years, supporting the view that no inaccurate particulars were furnished. en-us Wed, 28 Jan 2026 00:00:00 +0530 Sat, 31 Jan 2026 08:55:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785794 The dispute addresses imposition of penalty for furnishing inaccurate particulars of income where an assessing officer disallowed interest expense as capital in nature and treated it as revenue expenditure. The tribunal relied on the principle that making an incorrect claim is distinct from furnishing inaccurate particulars and cited precedent to that effect; consequence: the penalty under the relevant provision was not sustainable and the challenge to the penalty was allowed. The tribunal noted the matter on capitalization had attained finality and that the assessee capitalised interest in subsequent years, supporting the view that no inaccurate particulars were furnished. Case-Laws Income Tax Wed, 28 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785794