Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (5) TMI 1570 - ITAT MUMBAIPenalty u/s.271(1)(c) - donations collected in boxes marked as ‘donation towards corpus’ are not eligible for exemption u/s 11(1)(d) - Held that:- The word 'particulars' must mean the details supplied in the return, which are not accurate, not exact or correct, not according to truth or erroneous. In the instant case, there was no finding that any details supplied by the assessee in its return were found to be incorrect or erroneous or false. Such not being the case, there would be no question of inviting the penalty under section 271(1)(c). A mere making of the claim, which is not sustainable in law by itself will not amount to furnishing of inaccurate particulars regarding the income of the assessee. Such claim made in the return cannot amount to the inaccurate particulars. See ITO- (E) 2 (2) , MUMBAI VERSUS PRABODHAN PRAKASHAN, MUMBAI[2017 (1) TMI 1094 - ITAT MUMBAI]- decided in favour of assessee
|