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2018 (5) TMI 1733 - HC - Income TaxPenalty u/s 271(1)(c) - Deduction u/s 80IC - Non acceptance of revised return - Held that:- mere making of claim which is found to be not sustainable in law will not amount to furnishing inadequate particulars. Assessing Officer has rejected the revised return, wherein, part of the claim sought to be laid at the doorstep of Section 80IC was rejected and the order of the Assessing Officer has also become final; but that also may not suffice to impose penalty under Section 271(1)(c) as what the law contemplates is making of a false claim or a claim which is not bonafide. - Decided in favor of assessee.
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