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Penalty for Wrong Tax Claim Deleted: Section 271(1)(c) Error Deemed Bona Fide, Not Inaccurate Income Reporting.
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....Penalty u/s. 271(1)(c) - disallowance of expenses - Proof of bonafied error - there was wrong claim in the return of income filed by the assessee which cannot partake the characteristics of furnishing in-accurate particular of income. Therefore, we delete the levy of penalty considering it as bona fide error - AT....