https://www.taxtmi.com/caselaws?id=789958 Penalty for concealment was not leviable where the assessee had disclosed the relevant facts in the return and supported the claims with material on record. A claim for rental income under a different head, and a claim for deduction on reinvestment jointly made with her son, involved the correct legal treatment of the transaction rather than suppression of particulars. The later acceptance of the section 54 position reinforced that the issue was one of legal interpretation, not concealment or furnishing of inaccurate particulars. On that basis, penalty under section 271(1)(c) was deleted. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 17 Apr 2026 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789958 Penalty for concealment was not leviable where the assessee had disclosed the relevant facts in the return and supported the claims with material on record. A claim for rental income under a different head, and a claim for deduction on reinvestment jointly made with her son, involved the correct legal treatment of the transaction rather than suppression of particulars. The later acceptance of the section 54 position reinforced that the issue was one of legal interpretation, not concealment or furnishing of inaccurate particulars. On that basis, penalty under section 271(1)(c) was deleted. Case-Laws Income Tax Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789958