https://www.taxtmi.com/caselaws?id=788131 Whether penalty under section 271(1)(c) applies where a receipt from a foreign trust was disclosed and its taxability was debatable: tribunal applied the principle that full disclosure of material facts combined with a bona fide legal view supported by professional advice and divergent judicial opinions negates concealment or furnishing of inaccurate particulars; because the assessee had disclosed the receipt, furnished particulars, advanced a reasonable legal position and the department produced no evidence of mala fides or falsehood, the penalty was held unsustainable and deleted, appeal allowed in favour of the assessee. en-us Fri, 13 Mar 2026 00:00:00 +0530 Tue, 17 Mar 2026 08:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788131 Whether penalty under section 271(1)(c) applies where a receipt from a foreign trust was disclosed and its taxability was debatable: tribunal applied the principle that full disclosure of material facts combined with a bona fide legal view supported by professional advice and divergent judicial opinions negates concealment or furnishing of inaccurate particulars; because the assessee had disclosed the receipt, furnished particulars, advanced a reasonable legal position and the department produced no evidence of mala fides or falsehood, the penalty was held unsustainable and deleted, appeal allowed in favour of the assessee. Case-Laws Income Tax Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788131