Mere wrong claim of depreciation would not invite penalty U/s. 271(1)(c)

Chambal Fertilizers & Chemicals Ltd. Vs. ACIT (Rajasthan High Court)

A mere making of a wrong, though bona fide claim of depreciation, which is not sustainable in law, by itself will not amount to furnishing inaccurate particulars of income and therefore, such wrong claim will not automatically invite penalty under section 271(1)(c). 

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