Dismissing the appeal of the revenue that, merely because claim is not accepted levy of penalty is held to be not justified. Distinguished, Mak Data P. Ltd v.CIT (2013) 358 ITR 593 (SC) UOI v. Dharmendra Textiles Processors and others (2008) 306 ITR 277 (SC) (AY. 2010-11)
CIT v. BharatkumarManeklal Parikh (2020) 185 DTR 77 (Bom.)(HC)
S. 271(1)(c) : Penalty–Concealment–Capital gains-Merely because claim is not accepted levy of penalty is held to be not justified. [S. 45, 54EC]