Mere making a claim which is incorrect in law not amounts to giving inaccurate particulars

Gujarat State Financial Services Ltd. Vs. ACIT (ITAT Ahemdabad)

Penalty proceedings- Mere submitting a claim which is incorrect in law would not amount to giving inaccurate particulars of income of assessee, but if claim besides being incorrect in law is malafide, Explanation 1 to section 271(1)(c) comes into play and work to disadvantage of assessee....

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