https://www.taxtmi.com/caselaws?id=466384 Concealment of income or furnishing inaccurate particulars requires proof that the taxpayer knowingly concealed or supplied incorrect particulars; an incorrect legal claim alone does not suffice. Where income additions are made on an estimation basis, penalty under section 271(1)(c) is not leviable because estimation does not establish concealment or inaccurate particulars; revenue failed to demonstrate concealment in the present matter. The consequence is that penalties imposed solely on acceptance of estimation-based additions are unsustainable and were directed to be set aside in favour of the assessee. en-us Tue, 27 May 2025 00:00:00 +0530 Wed, 04 Feb 2026 13:07:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466384 Concealment of income or furnishing inaccurate particulars requires proof that the taxpayer knowingly concealed or supplied incorrect particulars; an incorrect legal claim alone does not suffice. Where income additions are made on an estimation basis, penalty under section 271(1)(c) is not leviable because estimation does not establish concealment or inaccurate particulars; revenue failed to demonstrate concealment in the present matter. The consequence is that penalties imposed solely on acceptance of estimation-based additions are unsustainable and were directed to be set aside in favour of the assessee. Case-Laws Income Tax Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466384