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2013 (12) TMI 528 - AT - Income TaxPenalty u/s 271(1)(c) – Held that:- There is no concealment nor furnishing of inaccurate particulars in this case. The assessee had made disclosures and had made conscious claims for interest payable – Following CIT vs.Reliance Petro [2010 (3) TMI 80 - SUPREME COURT] - To attract penalty, the details supplied in the return must not be accurate, not exact or correct, not according to the truth or erroneous. Where there is no finding that any details supplied by the assesse 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) – Decided against Revenue.
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