No Penalty for Excess Deduction Claim: Bona Fide Legal Claim u/ss 271(1)(c) and 35(2) Upheld.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty levied u/s 271(1)(c) - excess claim of deduction u/s 35(2) - the assessee has made a bonafide legal claim which cannot be said to be fallacious or flippant and malafide - no penalty - AT....