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2017 (9) TMI 484 - HC - Income TaxLevy of penalty u/s 271(1)(c) - deduction u/s 80HHB - profits derived from business of execution of foreign projects - Held That:- mere making of a claim which is not sustainable in law by itself will not amount to furnishing inaccurate particulars regarding the income of Assessee. - assessee is not guilty of deliberate furnishing of inaccurate particulars / concealment of income and is not liable to be mulcted with penalty under Section 271(1)(c) of IT Act.- Decided in favor of assessee.
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