https://www.taxtmi.com/caselaws?id=471255 Penalty for concealment or furnishing inaccurate particulars under Section 271(1)(c) does not arise solely because a deduction for provision for bad and doubtful debts is disallowed. Liability requires a finding that income was concealed or that particulars furnished were false or erroneous. Where the claim concerns eligibility of rural branches and is made bona fide, disallowance alone does not establish either statutory condition. The penalty is therefore not leviable merely on account of the rejected deduction claim. en-us Thu, 03 Apr 2025 00:00:00 +0530 Wed, 26 Aug 2026 21:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471255 Penalty for concealment or furnishing inaccurate particulars under Section 271(1)(c) does not arise solely because a deduction for provision for bad and doubtful debts is disallowed. Liability requires a finding that income was concealed or that particulars furnished were false or erroneous. Where the claim concerns eligibility of rural branches and is made bona fide, disallowance alone does not establish either statutory condition. The penalty is therefore not leviable merely on account of the rejected deduction claim. Case-Laws Income Tax Thu, 03 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471255