Court Upholds Penalty for Dubious Tax Deduction Claims u/s 271(1)(c), Assessees Subcontracted Work, Lacked Genuine Intent.

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....Penalty u/s 271(1)(c) - Deduction u/s 80IA - Dubious and fanciful claims under the garb of interpretation, are a mere pretence and not bonafide - assessees had not carried out the work but had sub-contracted the same to a third party/parties - Levy of penalty confirmed. - HC....