https://www.taxtmi.com/caselaws?id=790327 Penalty under section 271(1)(c) was held unsustainable where the stock difference had already been disclosed in the return of income and the dispute arose only from its exclusion from book profit under section 115JB for MAT purposes. On these facts, the amount could not be treated as concealment of income or furnishing of inaccurate particulars, because the issue concerned tax treatment rather than non-disclosure. The penalty was therefore rightly deleted and the penalty order was set aside in favour of the assessee. en-us Tue, 21 Apr 2026 00:00:00 +0530 Thu, 23 Apr 2026 09:45:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790327 Penalty under section 271(1)(c) was held unsustainable where the stock difference had already been disclosed in the return of income and the dispute arose only from its exclusion from book profit under section 115JB for MAT purposes. On these facts, the amount could not be treated as concealment of income or furnishing of inaccurate particulars, because the issue concerned tax treatment rather than non-disclosure. The penalty was therefore rightly deleted and the penalty order was set aside in favour of the assessee. Case-Laws Income Tax Tue, 21 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790327