Penalty u/s 271(1)(c) - Interest as obtained through interest bearing fund and used for non-business...

Penalty u/s 271(1)(c) - Interest as obtained through interest bearing fund and used for non-business purposes - Assessee has voluntarily offered such interest expenditure during the assessment. Thus, the assessee is not to be penalized on such addition as he himself has offered before assessment proceedings. - no penalty - AT .....

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