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2016 (1) TMI 254 - HC - Income TaxPenalty under Section 271(1)(c) - Held that:- In the instant case, there is no finding of the Assessing Officer that the details 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 furnishing inaccurate particulars regarding the income of the assessee. Commissioner of Income Tax Vs. Reliance Petro Products Pvt. Ltd. (2010 (3) TMI 80 - SUPREME COURT ) - Decided in favour of assessee.
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