Mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars

ADIT v Fidelity Management Trust Co ITAT BENCH ‘L’, MUMBAI ITA Nos. 1617 to 1620 (MUM.) of 2010 Assessment Year: 2004-05 Decided on: 29 April 2011 Order N.V. Vasudevan, JM These are appeals by the revenue against four orders all dated 23-12-2009 of CIT(A) X, Mumbai relating to assessment year 2004-05. In these appeals the revenue has challenged the orders of  the CIT(A), whereby the CIT(A) has cancelled the order of the AO imposing penalty on the assessees’ under section 271(1)(c) of the Income-tax Act,1961 (the Act). 2. The facts and circumstances under whi...