Penalty u/s 271(1)(c) - treating capital expenditure as revenue expenditure in the absence of any...

Penalty u/s 271(1)(c) - treating capital expenditure as revenue expenditure in the absence of any revenue recognition - t the assessee demonstrated that it had acted bonfidely on the basis of guidance notes of the ICAI and on the basis of accounting of such expenses in the earlier years, etc. - No penalty - AT .....

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