Providing Explanations with Evidence: No Automatic Penalty for Inaccurate Particulars u/s 271(1)(c) of Income Tax Act.

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....Penalty u/s 271(1)(c) - when the assessee has explained the entries with necessary evidences and said explanation is not found to be false, then merely for the reason that assessee had accepted addition made towards particular income is not a ground to hold that the assessee has furnished inaccurate particulars of income, which warrants levy of penalty u/s.271(1)(c) - AT....