Section 271(1)(c): Consciousness in furnishing inaccurate particulars with circumstantial evidences should be present

Kiritkumar Fakirchand Mehta Vs ACIT (ITAT Ahmedabad) Phrase furnishing ‘inaccurate particular‘ of incomer has not been defined under the provision of Income Tax Act. However, we note that the Hon’ble Supreme Court in the case of CIT vs. Reliance Petroproducts Pvt Ltd reported in 189 taxman 322 has discussed the term inaccurate particular by as “the word ‘particulars’ must mean the details supplied in the return, which are not accurate, not exact or correct, not according to truth or erroneous”. Thus, to arrive at the conclusion that, the assessee has furnished ina...