Penalty u/s 271(1)(c) - a case of furnishing of inaccurate...

Penalty u/s 271(1)(c) - a case of furnishing of inaccurate particulars of income has not been made out against the assessee. - Though, similar disallowances were made by the Assessing Officer in preceding assessment years and accepted by the assessee, however, no penalty proceedings for imposition of penalty u/s 271(1)(c) of the Act was initiated by the Assessing Officer - No penalty - AT