https://www.taxtmi.com/caselaws?id=800580 Penalty for concealment of income or furnishing inaccurate particulars requires a definite finding that income was concealed or that inaccurate particulars were furnished. Disallowance of depreciation or loss set-off claims, without material showing that the claims were false or that particulars were inaccurate, does not by itself attract penalty. Absence of supporting details and failure to challenge the related quantum disallowance likewise do not establish concealment or inaccurate particulars. Penalty therefore cannot be sustained solely because such claims were disallowed. en-us Wed, 23 Sep 2026 00:00:00 +0530 Thu, 08 Oct 2026 08:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800580 Penalty for concealment of income or furnishing inaccurate particulars requires a definite finding that income was concealed or that inaccurate particulars were furnished. Disallowance of depreciation or loss set-off claims, without material showing that the claims were false or that particulars were inaccurate, does not by itself attract penalty. Absence of supporting details and failure to challenge the related quantum disallowance likewise do not establish concealment or inaccurate particulars. Penalty therefore cannot be sustained solely because such claims were disallowed. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800580