Taxpayer Penalized for Concealing Property Purchase While Claiming Section 54F Deduction; Penalty u/s 271(1)(c) Applied.

Penalty U/s 271(1)(c) - The assessee was availing expert opinion on taxation matter as he was filing return since long and had number of businesses - claimed deduction U/s 54F by not disclosing the facts of the another house purchased in the return, proved that the assessee’s action was not bonafide - AT .....

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