No concealment penalty for erroneous claim without deliberate misrepresentation of facts : HC

INCOME TAX : Where Assessing Officer noted that assessee made an incorrect claim of deduction under section 10B and levied a penalty under section 271(1)(c), since an erroneous claim simpliciter does not automatically attract a penalty and it is only when an erroneous claim is based on a deliberate misrepresentation of facts or deliberate suppression of relevant material facts, that a penalty is imposed after deduction is denied, there was no question of imposing any penalty upon assessee

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