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2019 (1) TMI 945 - ITAT DELHIPenalty u/s 271(l)(c) - disallowance of depreciation of leased premises - Held that:- Mistake in present case was not bonafide. From the records also, we can see that the assessee company only offered 50% claim of depreciation as its income and conveniently/deliberately concealed the actual fact that 2/3 part of the premises was on rent. In fact, the assessee repeated the said claims of depreciation as well as deduction u/s. 24 in A.Y. 2006-07 and 2008-09. AO rightly levied the penalty u/s 271 (1)(c). There is no need to interfere with the order of the CIT(A) as the assessee has deliberately given inaccurate particulars of income. Therefore, the appeal of the assessee is dismissed.
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