No Penalty Imposed u/s 271(1)(c) of the Income Tax Act; Claim Deemed Bona Fide and Honest.

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....Penalty u/s. 271(1)(c) - difference between the returned income (loss) and income(loss) as per computation - the claim made by the Assessee as bona fide and therefore cannot be termed as dishonest or mala fide, hence we are of the considered view that in facts and circumstances and the documents available on record as stated above, no penalty is leviable - AT....