Assessee Not Penalized for Income Concealment u/s 271(1)(c) Due to Bona Fide Actions and No Intent to Conceal.

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....Penalty u/s 271(1)(c) - Failure to furnish returns, comply with notices, concealment of income - the assessee had shown that they had acted bonafidely. Thus, the assessee should not have been burdened with penalty for concealment of income u/s 271(1)(c)....