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2008 (8) TMI 15 - HC - Income TaxPenalty u/s 271 - Inadvertently, the assessee had claimed 100% deduction under Section 80 HHE, when he was actually entitled to only an 80% deduction – assessee did this on the basis of expert advice which had been certified by his Chartered Accountant – explanation offered by the assessee was bona fide and that all facts which were material to the computation of his income had been disclosed by the assessee – penalty not imposable
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