No Penalty Imposed: Section 271(1)(c) Not Applicable Due to Transparent Disclosure Despite Denied Section 80IA(4) Deduction.

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....Penalty u/s 271(1)(c) - deduction u/s 80IA(4) denied as industrial undertaking was not approved by the CBDT - the assessee has made a claim anticipating sanction of scheme by the CBDT and it has disclosed this fact during the course of assessment proceedings - no deliberate effort was made for withholding such information or furnishing inaccurate particulars - no penalty....