https://www.taxtmi.com/caselaws?id=792917 Expenditure on free or concessional tickets, hospitality, conveyance, travel, hotel boarding and lodging was treated as taxable fringe benefits on the facts found by the lower authorities, and the fringe benefit additions were sustained. For penalty, the Tribunal applied the distinction between a mere incorrect claim and furnishing inaccurate particulars, noting disclosure in accounts and audit material together with bona fide taxability differences; it found that the Revenue had not proved the requisite inaccuracy to justify penalty. The penalty deletion was therefore affirmed, while the quantum additions remained undisturbed. en-us Wed, 03 Jun 2026 00:00:00 +0530 Fri, 05 Jun 2026 08:07:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792917 Expenditure on free or concessional tickets, hospitality, conveyance, travel, hotel boarding and lodging was treated as taxable fringe benefits on the facts found by the lower authorities, and the fringe benefit additions were sustained. For penalty, the Tribunal applied the distinction between a mere incorrect claim and furnishing inaccurate particulars, noting disclosure in accounts and audit material together with bona fide taxability differences; it found that the Revenue had not proved the requisite inaccuracy to justify penalty. The penalty deletion was therefore affirmed, while the quantum additions remained undisturbed. Case-Laws Income Tax Wed, 03 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792917