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2020 (4) TMI 708 - AT - Income TaxPenalty u/s. 271(1)(c) - Incorrect claim of deduction u/s. 35 - HELD THAT:- Bona fide claim made by the assessee which is disallowed due to lack of compliance shall not lead to concealment of the particulars of income or furnishing inaccurate particulars of such income for the purpose of levying penalty U/s. 271(1)(c) of the Act. Therefore, we hereby direct the Ld. AO to delete the penalty levied - Decided in favour of assessee.
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