Penalty u/s 271(1)(c) Not Justified for Withdrawing Depreciation; No Automatic Assumption of Income Concealment.

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....Levy of penalty u/s 271(1)(c) - mere withdrawal of depreciation by the assessee at the assessment stage itself does not amount to be a valid reason for treating the transaction as non-genuine and for coming to a conclusion that it had concealed income or furnished inaccurate particulars of such income. - AT....