No Penalty for Excess Depreciation: Taxpayer's Voluntary Correction u/s 271(1)(c) Shows Bona Fide Intent.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty u/s. 271(1)(c) - the addition made in the impugned case on account of excess depreciation claimed, having been surrendered by the assessee itself without any prior detection by the Revenue, the excess claim having been demonstrated to have been made for bonafide reasons, it is surely not a case for levy of penalty at all. - AT....