High Court Upholds ITAT Decision: No Penalty for Bona Fide Error u/s 271(1)(c) on Excess Depreciation Claim.

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....Penalty u/s. 271(1)(c) - furnishing of inaccurate particulars of income - the addition made in the impugned case on account of excess depreciation claimed having been surrendered by the assessee itself without any prior detection of the Revenue and the excess claim having been demonstrated to have been made for the bonafide reasons - ITAT has rightly deleted the penalty - HC....