https://www.taxtmi.com/caselaws?id=471322 Penalty for concealment of income or furnishing inaccurate particulars does not arise where prior-period expenses were disclosed in the return, added back in the income computation, and tax was paid after that disallowance. A data-entry error in the returned-income figure did not negate the correct computation and tax particulars or establish concealment. Mere making of an incorrect claim, without concealment of income or furnishing inaccurate particulars, does not attract penalty. The penalty was therefore not leviable. en-us Fri, 04 Apr 2025 00:00:00 +0530 Sat, 29 Aug 2026 14:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471322 Penalty for concealment of income or furnishing inaccurate particulars does not arise where prior-period expenses were disclosed in the return, added back in the income computation, and tax was paid after that disallowance. A data-entry error in the returned-income figure did not negate the correct computation and tax particulars or establish concealment. Mere making of an incorrect claim, without concealment of income or furnishing inaccurate particulars, does not attract penalty. The penalty was therefore not leviable. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471322