Penalty not imposable for non-submission of part documents related to bona fide claim as business was closed 

Jain Peripherals P. Ltd Vs DCIT (ITAT Delhi)

Hon’ble Apex Court in the case of CIT Vs. Reliance Petro Products (P) Ltd. 322 ITR 158 (2010) held that ‘a mere making of the claim, which is not sustainable in law by itself will not amount to furnishing inaccurate particulars

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