Penalty u/s. 271(1)(c) imposable as deduction claimed by furnishing inaccurate particulars: ITAT Ahmedabad

Smt. Maya K. Dharwani Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that imposition of penalty u/s. 271(1)(c) of the Income Tax Act justified as deduction was claimed u/s. 54EC and 54F of the Income Tax Act by furnishing inaccurate particulars. Facts- The assessee is an individual having interest on loans and income from house property as main source of income. The assessee filed her return of income for the A.Y. 2013-14 on 14-03-2014 declaring total income of Rs.8,63,230/-. The case was selected for the scrutiny and the assessment was completed u/s.143(3) of the Act, after disallowing deduction...