Penalty not imposable merely for making of a claim, which is not sustainable in law

Bandana Bahuguna Vs ITO (ITAT Delhi) ITAT observe that it is not the case of the Revenue that the Assessee has acted deliberately in defiance of law, or is guilty of contumacious or dishonest conduct, or acts in conscious disregard of its obligation and therefore in our considered view, mere making of a claim, which is not sustainable in law, would not, ipso facto, amount to concealment of income or furnishing of inaccurate particulars regarding the income of the Assessee and would, therefore, not automatically result in a penalty order against the Assessee’ in view of judgment of the Hon’...