Penalty u/s 271(1)(c) Not Applicable as AO Finds No Income Concealment or Inaccurate Particulars in Tax Return.

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....Penalty u/s 271(1)(c) levied - In the assessee’s case, the AO has not given any finding in assessment order that the assessee had concealed any income or furnished inaccurate particulars of such income. He had simply accepted the returned income u/s 148 - penalty u/s 271(1)(c) will not be imposable. - AT....