Section 271(1)(c) Penalty Proceedings: Evaluating Assessee's Claims Based on Evidence and Supreme Court Rulings in Tax Cases.

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....Penalty proceedings u/s 271(1)(c) - Accepting or rejecting the assessee's claim is based on appreciation of those evidences, forming part of the assessee's explanation, and for which reference is made to a series of decisions by the apex court, as follows - AT....