Penalty u/s 271(1)(c) Overturned: No Concealment or Inaccurate Details Found in Assessee's Deduction Claim.

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....Penalty u/s. 271(1)(c) - assessee has purchased a vacant land for which he is not entitled for deduction u/s. 54F - the assessee has neither concealed the income nor furnished inaccurate particulars in this case and therefore, the penalty levied by the A.O and confirmed by the CIT(A) is not correct. - AT....