High Court Upholds Penalty u/s 271(1)(c) for Wrongful Depreciation Claim, Disagreeing with Tribunal's View on Bona Fide Explanation.

Penalty u/s 271(1)(c) - wrong claim of depreciation - We are also unable to subscribe to the view of the Tribunal that the explanation submitted by the assessee “appears to be bona fide - penalty confirmed - HC .....

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