No malafide intention no penalty

Brief of the Case

In, the present facts of the Case the Hon’ble High Court held that no penalty could be levied until it is proved that there was an active concealment or there is deliberate furnishing of inaccurate particulars.

Facts of the Case

In, the present facts of the Case the Revenue have challenged the order of ITAT u/s 260A. The assessee in its accounts had shown borrowed funds and interest free a

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