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TMI Blog2013 (2) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... als it is only that the claims of deduction under Section 80IB have been downscaled. This, by itself, would not mean that it is a case of furnishing inaccurate particulars of income. See CIT v. Reliance Petroproducts (P) Ltd [2010 (3) TMI 80 - SUPREME COURT] - in favour of assessee. - ITA No.48 & 49/2013 - - - Dated:- 29-1-2013 - MR BADAR DURREZ AHMED MR R.V.EASWAR JJ. For the Petitioner: M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vel. We may take the case of the assessment year 2003-04. Initially, the assessee had claimed deduction under section 80-IB of Rs.2,52,41,632/-. However, subsequently the respondent-assessee filed a revised return in which he claimed an enhanced deduction under section 80-IB of Rs.2,67,48,176/-. In the penalty proceedings the computation with regard to the deduction under section 80-IB has ult ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , was also concerned with penalty under section 271(1)(c) of the said Act. The Supreme Court observed as under:- 9. We are not concerned in the present case with the mens rea. However, we have to only see as to whether in this case, as a matter of fact, the assessee has given inaccurate particulars. In Webster's Dictionary, the word "inaccurate" has been defined as: not accurate, not exact o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee. Such claim made in the Return cannot amount to the inaccurate particulars. 5. It is apparent from the above extract, that the mere making of a claim which is ultimately held not to be sustainable in law, would not amount to furnishing inaccurate particulars regarding the income of an assessee. In the present appeals it is only that the claims of deduction under Section 80IB have been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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