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No concealment penalty just because an inadmissible claim of deduction was raised

December 13, 2018[2018] 100 162 (Delhi)

IT: Where assessee engaged in re-financing of loan given for purchase of residential houses, disclosed all particulars relating to claim of deduction under sec. 36(1)(viii), mere fact that AO opined that since assessee was not directly engaged in providing long-term finance for construction of purchase of houses and thus assessee's claim was inadmissible, could not be a ground to pass a penalty order under sec 271(1)(c)

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