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2008 (2) TMI 204 - HC - Income TaxAssessee was awarded compensation in lieu of his acquired land - Whether the amount of enhanced compensation and interest was assessable on receipt basis, was a highly debatable issue - making of such claim that it was not assessable was bona fide on the basis of a possible view therefore it could not be treated as concealment of its income – it can’t be treated as furnishing of inaccurate particulars of such income so penalty could not be levied
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