Penalty u/s 271(1)(c) Overturned Due to Lack of Inquiry on Taxpayer's Land Sale Income Explanation.

Penalty u/s 271(1)(c) - taxability of income from sale of land - AO has accepted the amount offered by the assessee as his income and levied penalty without making any enquires and investigation to disprove that the explanation given by the assessee is either false or bona fide - No penalty - AT .....

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