https://www.taxtmi.com/caselaws?id=787957 Deletion of a penalty under Section 271(1)(c) is affirmed where authorities find no specific incorrect particulars or suppression in the return; mere assertion that a claimed loss is unsustainable, speculative or a valuation loss does not automatically amount to concealment or furnishing of inaccurate particulars. The analysis applies the principle that penalty provisions are to be strictly construed and requires positive findings that particulars in the return were incorrect or suppressed before invoking the penalty; absent such findings the penalty cannot be sustained, leading to dismissal of the Revenue appeal in favour of the assessee. en-us Thu, 26 Feb 2026 00:00:00 +0530 Sat, 14 Mar 2026 08:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787957 Deletion of a penalty under Section 271(1)(c) is affirmed where authorities find no specific incorrect particulars or suppression in the return; mere assertion that a claimed loss is unsustainable, speculative or a valuation loss does not automatically amount to concealment or furnishing of inaccurate particulars. The analysis applies the principle that penalty provisions are to be strictly construed and requires positive findings that particulars in the return were incorrect or suppressed before invoking the penalty; absent such findings the penalty cannot be sustained, leading to dismissal of the Revenue appeal in favour of the assessee. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787957