Making Wrong Claim u/s 54 instead of 54F wouldn’t attract Penalty: ITAT

The Income Tax Appellate Tribunal (ITAT), Jaipur bench has held that making a wrong claim under section 54 of the Income Tax Act, 1961 instead of 54F would not render penal liability under section 271(1)(c) of the Act. The assessee, an individual file returns declaring nil income and claimed deduction under section 54 instead of […]

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