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Case Law Details

Case Name : Jain Studios Ltd. & Anr. Vs DCIT (ITAT Delhi)
Related Assessment Year : 2011-12
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Jain Studios Ltd. & Anr. Vs DCIT (ITAT Delhi)

 Mere making of a claim which had not been accepted, would not per se tantamount to furnishing of inaccurate particulars to attract penalty proceedings under section 271(1)(c) of Income Tax Act, 1961. Bare perusal of explanation furnished by the assessee went to prove that it had come up with bona fide claim with no actual or conscious furnishing of inaccurate particulars, therefore, levy of Please become a Premium member. If you are already a Premium member, login here to access the full content.

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