Taxpayer Avoids Penalty u/s 271(1)(c) Due to Honest Reporting and Bona Fide Mistake in TDS Disallowance.

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....Penalty u/s 271(1)(c) - Since the assessee had furnished full particulars about the expenditure incurred including non–deduction of TDS in the tax audit report itself, it cannot be accused of furnishing inaccurate particulars of income - failure to disallow the amount u/s 40(a)(ia) was due to a bona fide mistake is acceptable - penalty deleted....