https://www.taxtmi.com/caselaws?id=788057 Penalty for furnishing inaccurate particulars may apply where an assessee claims and carries forward losses that are not allowable under the Income-tax Act. A claimed technical or system-related error does not by itself establish that the claim was bona fide. Although mens rea is not a statutory requirement, a bona fide belief and adequate disclosure may, in appropriate circumstances, negate the basis for penalty. Where the incorrect brought-forward loss claim is not bona fide or defensible on the facts, penalty under Section 271(1)(c) is sustainable. en-us Fri, 13 Mar 2026 00:00:00 +0530 Mon, 16 Mar 2026 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788057 Penalty for furnishing inaccurate particulars may apply where an assessee claims and carries forward losses that are not allowable under the Income-tax Act. A claimed technical or system-related error does not by itself establish that the claim was bona fide. Although mens rea is not a statutory requirement, a bona fide belief and adequate disclosure may, in appropriate circumstances, negate the basis for penalty. Where the incorrect brought-forward loss claim is not bona fide or defensible on the facts, penalty under Section 271(1)(c) is sustainable. Case-Laws Income Tax Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788057