No Penalty u/s 271(1)(c) for mere Incorrect Claim

Hardik Mahendrabhai Patel Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that making of incorrect claim in law cannot tantamount to furnishing of inaccurate particulars or concealment of income. Therefore, the penalty under section 271(1)(c) of the Income Tax Act not sustainable. Facts- The assessee filed his return of income on 29.10.2016 declaring total income of Rs.11,58,840/-. AO vide Assessment Order dated 20.12.2017 made addition of Rs.5,62,893/- in respect of gross receipt as per Form No.26AS. The Assessing Officer also made addition of Rs.54,01 0/- on account of vehicle repairing expense...