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TMI Blog2016 (1) TMI 254X X X X Extracts X X X X X X X X Extracts X X X X ..... etails supplied by the assessee in its return was inaccurate, incorrect, erroneous or false. In the absence of any finding of this nature, the question of imposing penalty under Section 271(1)(c) on the mere making of the claim could not arise nor such imposition of penalty would be sustainable in law. In our opinion, a mere making of the claim for certain deductions by itself would not amount to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etc. The Assessing Officer held that the income derived from DEPB and other export incentives are not the income derived from an industrial undertaking. The Assessing Officer allowed the deductions under Section 80 IB after deleting duty draw back and export incentives. The Assessing Officer was also of the opinion that for claiming deductions on duty draw back etc, the Assessee had furnished ina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appellant and Sri Ashish Bansal, the learned counsel for the respondents, we find that the assessee had disclosed all the income and claimed certain deductions, which were disallowed. The mere fact that certain deductions were disallowed, does not mean that the assessee had furnished inaccurate particulars or had concealed the particulars of his income. The words "inaccurate particulars&qu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the Supreme Court held that the mere making of the claim, which is not sustainable in law, by itself, would not amount to furnishing inaccurate particulars regarding the income of the assessee. Such claim made by the assessee in the return, would not amount to inaccurate particulars. Similar view was taken by this Court in Commissioner of Income Tax Vs. M/S Arvidn Footwear Pvt. Ltd. Dated 11.04 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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