No concealment penalty if expenses disallowed by AO were otherwise allowable in next FY: HC

IT : Where Assessing Officer disallowed assessee's claim for deduction of expenditure during year and also imposed penalty under section 271(1)(c) upon it, since expenses as claimed by assessee were otherwise eligible and allowed in next assessment year and all details relating to these expenses were disclosed by assessee, imposition of penalty was to be set aside

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