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2018 (6) TMI 695 - ITAT DELHIPenalty u/s 271(1)(c) - AO has held that the act of claiming expenditure which was not allowable under the provisions of the Act was an act of furnishing of inaccurate particulars of income and concealment - Held that:- The explanation of the assessee regarding inadvertent error lacked bona fide. However, with regard to the provisions of section 271(1)(c) pertaining to penalty, the Hon’ble Apex Court has authoritatively laid down that making of a claim by the assessee which is not sustainable will not tantamount to furnishing inaccurate particulars. In CIT vs. Reliance Petroproducts Pvt. Ltd. (2010 (3) TMI 80 - SUPREME COURT) - Decided in favour of assessee.
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