https://www.taxtmi.com/caselaws?id=791699 Penalty under section 270A was unsustainable where the additions arose from a disclosed and debatable claim on the character of expenditure. The dispute concerned whether loan processing charges and stamp duty were capital or revenue in nature, and whether preliminary expenses were allowable under section 35D. As the audited accounts disclosed the particulars and the controversy went only to eligibility and classification, the disallowance did not establish concealment, inaccurate particulars, under-reporting, or misreporting of income. The penalty was therefore deleted. en-us Wed, 13 May 2026 00:00:00 +0530 Fri, 15 May 2026 09:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791699 Penalty under section 270A was unsustainable where the additions arose from a disclosed and debatable claim on the character of expenditure. The dispute concerned whether loan processing charges and stamp duty were capital or revenue in nature, and whether preliminary expenses were allowable under section 35D. As the audited accounts disclosed the particulars and the controversy went only to eligibility and classification, the disallowance did not establish concealment, inaccurate particulars, under-reporting, or misreporting of income. The penalty was therefore deleted. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791699