High Court Upholds Penalty u/s 271(1)(c) for Wrongful Depreciation Claim, Disagreeing with Tribunal's View on Bona Fide Explanation. https://www.taxtmi.com/highlights?id=6238 Penalty u/s 271(1)(c) - wrong claim of depreciation - We are also unable to subscribe to the view of the Tribunal that the explanation submitted by the assessee “appears to be bona fide - penalty confirmed - HC en-us Fri, 14 Dec 2012 21:15:48 +0530 Fri, 14 Dec 2012 21:15:48 +0530 TaxTMI RSS Generator High Court Upholds Penalty u/s 271(1)(c) for Wrongful Depreciation Claim, Disagreeing with Tribunal's View on Bona Fide Explanation. https://www.taxtmi.com/highlights?id=6238 Penalty u/s 271(1)(c) - wrong claim of depreciation - We are also unable to subscribe to the view of the Tribunal that the explanation submitted by the assessee “appears to be bona fide - penalty confirmed - HC Highlights Income Tax Fri, 14 Dec 2012 21:15:48 +0530 https://www.taxtmi.com/highlights?id=6238