Chadha Sugars Pvt. Ltd. vs Acit
Whether penalty u/s 271(1)(c) for furnishing inaccurate particulars is valid when the AO recorded satisfaction about concealment but levied penalty for inaccurate particulars --- Held No, as the charge was clearly communicated in assessment order. Whether penalty is justified for claiming capital expenditure as revenue deduction based on expert opinion --- Held Yes, as the claim was patently false and not bona fide.
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