Making wrong claim is not concealment or furnishing of inaccurate information

Making a wrong claim is not at par with concealment or giving of inaccurate information, which may call for levy of penalty under section 271(1)(c) ITAT, BENCH `C’, MUMBAI, ITO Vs. Parikh Investment & Development P. Ltd., ITA No. 4760/Mum/2009 , May 7, 2010 _______ORDER_______ Per D.K. AGARWAL (JM). This appeal preferred by the revenue is directed against the order dated 11.6.2009 passed by the ld. CIT(A) for the Assessment Year 2005-06. 2. Briefly stated facts of the case are that the assessee company is engaged in the business of development and construction. It filed ...