https://www.taxtmi.com/caselaws?id=790061 Penalty under section 271(1)(c) is not attracted merely because an expense claim is disallowed in assessment. The governing requirement is a finding of concealment of income or furnishing of inaccurate particulars in the return. Where the assessee had disclosed the expenditure in the return and books of account, the addition arising only from disallowance of the claim did not, by itself, establish inaccuracy or concealment. On that basis, the penalty was held unsustainable and was quashed in favour of the assessee. en-us Thu, 16 Apr 2026 00:00:00 +0530 Sat, 18 Apr 2026 08:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790061 Penalty under section 271(1)(c) is not attracted merely because an expense claim is disallowed in assessment. The governing requirement is a finding of concealment of income or furnishing of inaccurate particulars in the return. Where the assessee had disclosed the expenditure in the return and books of account, the addition arising only from disallowance of the claim did not, by itself, establish inaccuracy or concealment. On that basis, the penalty was held unsustainable and was quashed in favour of the assessee. Case-Laws Income Tax Thu, 16 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790061