Dismissing the appeal of the revenue the Court held that ; inadvertently claimed higher rate of 40% depreciation instead of 25% is a bona fide mistake.Deletion of penalty is held to be justified . ( AY.2004 -05)
PCIT v. Bunge India Pvt. Ltd. (2018) 407 ITR 225 (Bom) (HC)
S.271(1)(c ): Penalty –Concealment – Inadvertently claimed higher rate of 40% depreciation instead of 25%- Bona fide mistake –Deletion of penalty is held to be justified .[ S.32 ]