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Income Tax - Highlights / Catch Notes

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Penalty u/s 271(1)(c) - computation of short term capital ...

Income Tax

Penalty u/s 271(1)(c) - computation of short term capital gains on sale of various office premises - WDV taken as per The Companies Act as against Income Tax Act - bonafide computational error - could not be termed as furnishing of inaccurate particulars of income which justifies imposition of penalty u/s 271(1)(c).

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