2010 (5) TMI 848

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....KOTAIAH, AM This is an appeal by the Revenue against the order of the CIT (A)-IV Mumbai dated 8.5.2009. The revenue is aggrieved on the deletion of penalty of Rs. 2,35,314/- levied by the Assessing Officer on account of disallowance of commission paid of Rs. 1,65,911/- and an addition of Rs. 4,74,400/- on account of sales to associated concerns based on the order under section 92CA(3) dated 3.1....

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....ishing inaccurate particulars and additions have been made in computing the arms length price in different methods and this difference of opinion can be considered as bona fide difference of opinion and the same does not tantamount furnishing inaccurate particulars of income. Accordingly, he cancelled the penalty. 4. Before us, the Learned Departmental Representative relied on the orders of the....

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....sions of section 271(1)(c) of the Income-tax Act, 1961, suggests that in order to be covered by it, there has to be concealment of the particulars of the income of the assessee. Secondly, the assessee must have furnished inaccurate particulars of his income. The meaning of the word "particulars" used in section 271(1)(c) would embrace the details of the claim made. Where no information given in th....

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....that any details supplied by the assessee in its return are found to be incorrect or erroneous or false there is no question of inviting the penalty under section 271(1)(c). A mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. Such a claim made in the return cannot amount to furnishing inacc....