Penalty u/s 271(1)(c) - concealment or furnishing inaccurate particulars - Where the explanation is not...

Penalty u/s 271(1)(c) - concealment or furnishing inaccurate particulars - Where the explanation is not make belief and sham but genuine, the assessee would satisfy the requirement of Explanation 1 to Section 271(1)(c). This test and requirement is satisfied in the present case. .....

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