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Where there is no finding that any details supplied by the assessee in its return are found to be incorrect or erroneous or false there is no question of inviting the penalty under section 271(1)(c). A mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. Such a claim made in the return cannot amount to furnishing inaccurate particulars."

5. Thus, the return of income or validly revised return is the basis or the starting point for arriving at the accuracy or inaccuracy of the particulars/claims "because that is the only document where the assessee can furnish the particulars of his income..... To attract penalty, the details supplied in the return must not be accurate, not exact or correct not according to the truth or erroneous". In the light of the said settled position, we have examined the facts of the instant case, where the assessee furnished the valid return, which was accepted by the AO without pointing out a single inaccuracy and without making any further additions in the assessment. In such circumstances, we find that it is not a fit case for levy penalty. Grounds raised by the assessee are allowed.