Supreme Court · 2010 INSC 155 · Decided 17 March 2010
C. I. T., Ahmedabad v. Reliance Petroproducts PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2010 INSC 155 · [2010] 3 S.C.R. 510
- Case number
- CIVIL APPEAL No. 2463/2010
- Decided
- 17 March 2010
- Bench
- V.S. SIRPURKAR, MUKUNDAKAM SHARMA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 271, 271(1)(c)
Headnote
INCOME TAX ACT, 1961: s. 271 (1 )(c) - Penalty on concealment of income or furnishing 'inaccurate particulars' - Assessee claiming in the return a certain sum as expenditure, on :the basis of expenditure made for paying the interest on the loan for 0 purchase of IPL shares - Claim not notice u/s 271(1)(c) issued to assessee....:. HELD: There is no finding that any details supplied by assessee were found to be incorrect or erroneous or false - A mere making of the claim, which is not sustainable in law, by itself will not amount E ·to furnishing inaccurate particulars
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