In the result, the appeal filed by the Assessee is hereby allowed
Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)
158] "S. 271 (1) (C) penalty cannot be imposed even for making unsustainable claims". (1) S.271 (1) (C) applies where the assesses "has concealed the particulars of his income furnished inaccurate particulars of such income". The present was not a case of concealment of the income. As regards the furnishing of inaccurate particulars, no information given in the return