Penalty Quashed: No Evidence of Inaccurate Income Details u/s 271(1)(c) for Closing Stock Undervaluation.

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....Penalty under Section 271(1)(c) - Undervaluation of closing stock - The case of furnishing of any inaccurate particulars of income is not apparent from the record itself neither the books of account has been rejected, nor any case of creating false evidence has been made by the Revenue. - we quash the impugned order of penalty - AT....