Penalty u/s 271(1)(c) - claim of HRA denied as rent paid to co-owner - The rent was actually paid to the...

Penalty u/s 271(1)(c) - claim of HRA denied as rent paid to co-owner - The rent was actually paid to the co-owners and this fact has not been disputed by the AO - Merely because the claim of the assessee did not find any favour with the AO would not, ipso facto, become a bogus claim - penalty deleted .....

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