https://www.taxtmi.com/caselaws?id=802388 Bona fide claims for deductions on fixed assets written off do not attract penalties for concealment of income or furnishing inaccurate particulars merely because the deductions are disallowed under section 37 of the Income-tax Act, 1961. Where all relevant facts are disclosed, treating the expenditure as capital in nature and disallowing the claim does not, by itself, establish concealment or inaccurate particulars. en-us Thu, 10 Sep 2026 00:00:00 +0530 Thu, 05 Nov 2026 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802388 Bona fide claims for deductions on fixed assets written off do not attract penalties for concealment of income or furnishing inaccurate particulars merely because the deductions are disallowed under section 37 of the Income-tax Act, 1961. Where all relevant facts are disclosed, treating the expenditure as capital in nature and disallowing the claim does not, by itself, establish concealment or inaccurate particulars. Case-Laws Income Tax Thu, 10 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802388