Submitting inaccurate claim would not amount to giving inaccurate particulars, Penalty can not be imposed U/s. 271(1)(c)

Submitting inaccurate claim would not amount to giving inaccurate particulars, Penalty can not be imposed Under Section 271(1)(c) of the Income Tax Act,1961. CIT Vs Brahmaputra Consortium Ltd (Delhi High Court)- When the assessee accepts the excess depreciation claimed inadvertently and the same being disallowed by the AO, penalty u/s 271(1)(c) is not warranted in such a case. Commissioner of Income Tax Vs Brahmaputra Consortium Ltd. Decided by – Delhi High Court ITA No. 1582 of 2010 Judgement reserve on: 12.07.2011 Judgement delivered on: 03.08.2011 A.K. SIKRI, J. 1. The...