https://www.taxtmi.com/caselaws?id=790904 Penalty under section 271(1)(c) is not leviable where an assessee makes a claim that is disallowed in law, but the return discloses full particulars and there is no finding that the details furnished were false, erroneous, or incomplete. Mere rejection of a deduction or expense claim as capital in nature does not, by itself, establish concealment of income or furnishing of inaccurate particulars. On these facts, the disallowance of documentation and stamp charges did not justify penalty, and the penalty was deleted. en-us Thu, 30 Apr 2026 00:00:00 +0530 Sat, 02 May 2026 07:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790904 Penalty under section 271(1)(c) is not leviable where an assessee makes a claim that is disallowed in law, but the return discloses full particulars and there is no finding that the details furnished were false, erroneous, or incomplete. Mere rejection of a deduction or expense claim as capital in nature does not, by itself, establish concealment of income or furnishing of inaccurate particulars. On these facts, the disallowance of documentation and stamp charges did not justify penalty, and the penalty was deleted. Case-Laws Income Tax Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790904