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2013 (10) TMI 375 - HC - Income TaxPenalty u/s 271(1)(c) of the Income Tax Act – Held that:- Reliance has been placed upon the judgment in the case of Commissioner of Income Tax –v- Reliance Petroproducts Private Ltd. reported in [2010 (3) TMI 80 - SUPREME COURT], wherein it has been held that where there is no finding 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 inaccurate particulars – Decided against the Revenue.
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