TMI Blog2010 (5) TMI 848X X X X Extracts X X X X X X X X Extracts X X X X ..... of the CIT (A)-IV Mumbai dated 8.5.2009. The revenue is aggrieved on the deletion of penalty of ₹ 2,35,314/- levied by the Assessing Officer on account of disallowance of commission paid of ₹ 1,65,911/- and an addition of ₹ 4,74,400/- on account of sales to associated concerns based on the order under section 92CA(3) dated 3.1.2006 passed by the Transfer Pricing Officer (TPO) Mum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een made in computing the arms length price in different methods and this difference of opinion can be considered as bona fide difference of opinion and the same does not tantamount furnishing inaccurate particulars of income. Accordingly, he cancelled the penalty. 4. Before us, the Learned Departmental Representative relied on the orders of the Assessing Officer. The assessee has not appeared ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... suggests that in order to be covered by it, there has to be concealment of the particulars of the income of the assessee. Secondly, the assessee must have furnished inaccurate particulars of his income. The meaning of the word particulars used in section 271(1)(c) would embrace the details of the claim made. Where no information given in the return is found to be incorrect or inaccurate, the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 7. Respectfully following the abo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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