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Penalty Not Justified: Disallowing Write-Off Claim After Prior Acceptance Violates Section 271(1)(c.

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....Penalty u/s 271(1)(c) - Since the department itself has accepted assessee’s claim for such writing off of preliminary expenses in the immediately preceding assessment year, disallowance of similar claim in subsequent year will not make it a fit case for levy of penalty - AT....

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Penalty Not Justified: Disallowing Write-Off Claim After Prior Acceptance Violates Section 271(1)(c.