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2013 (3) TMI 649 - AT - Income TaxPenalty u/s 271(1)(c) - wrong claim of depreciation - Held that:- The mere mistake in making of a claim in the return of income would not ipso facto reflect concealment or furnishing of inaccurate particulars of income in terms of section 271(1)(c) of the Act. The wrong claim of depreciation in the present case cannot be said to be made with an intention to evade taxes in as much as even after the disallowance of depreciation, the resultant income of the assessee remains a loss. - Decided in favour of assessee.
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