https://www.taxtmi.com/caselaws?id=798416 Penalty for furnishing inaccurate particulars does not arise where capital-gains computation on a slump sale, including treatment of negative net worth, rests on a bona fide and fully disclosed legal claim. Divergent Tribunal interpretations of the relevant provision and admission of a substantial question of law demonstrated that the issue was debatable. Acceptance of a quantum addition, including by not pursuing a ground to avoid further litigation, does not by itself establish concealment or inaccurate particulars. Penalty was therefore not leviable, and its deletion was sustained. en-us Fri, 14 Aug 2026 00:00:00 +0530 Mon, 07 Sep 2026 08:48:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798416 Penalty for furnishing inaccurate particulars does not arise where capital-gains computation on a slump sale, including treatment of negative net worth, rests on a bona fide and fully disclosed legal claim. Divergent Tribunal interpretations of the relevant provision and admission of a substantial question of law demonstrated that the issue was debatable. Acceptance of a quantum addition, including by not pursuing a ground to avoid further litigation, does not by itself establish concealment or inaccurate particulars. Penalty was therefore not leviable, and its deletion was sustained. Case-Laws Income Tax Fri, 14 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798416