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2013 (1) TMI 878 - HC - Income TaxPenalty u/s. 271(1)(c) - disallowance of bad debts - Held that:- in absence of any material to indicate any dishonest attempt on the part of the assessee to conceal the income, no penalty can be imposed - the assessee had furnished all the details of its expenditure as well as income in its Return - neither there is any concealment of income nor is there any material to indicate filing of inaccurate particulars of income by the assessee - Decided in favor of assessee
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