No Penalty for Excess Depreciation Claim: Section 271(1)(c) Not Applicable, No Income Concealment Found.

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....Penalty u/s 271(1)(c) - Excess depreciation claim - it is merely a case of difference arising out of the reworking of the carry forward depreciation by the AO by allowing more depreciation than claimed by the assessee company and not a case of concealing of income or furnishing of inaccurate of particulars of income. - No penalty - AT....