No penalty u/s 271(1)(c) if full disclosure is made and claim is debatable without revenue loss.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....No penalty levied u/s. 271(1)(c) if assessee has made complete disclosure of details of claim in Accounts as well as return. Further if claim is a debatable and there was no loss to revenue, no penalty is leviable.....