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2017 (11) TMI 212 - AT - Income TaxPenalty u/s 271(1)(c) - as per AO act of claiming set off of loss against capital gains was an act of furnishing of inaccurate particulars of income - Held that:- With regard to the provisions of section 271(1)(c) of the Act, pertaining to penalty, the Hon’ble Apex Court in CIT vs. Reliance Petroproducts Pvt. Ltd. (2010 (3) TMI 80 - SUPREME COURT) has authoritatively laid down that making of a claim by the assessee which is not sustainable will not tantamount to furnishing inaccurate particulars. - Decided in favour of assessee.
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