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2016 (5) TMI 1344 - ITAT DELHILevy of penalty u/s 271(1)(c) - expenditure on account of fees paid to the Registrar of Companies for increase in its share capital disallowed as claimed revenue expenditure - Held that:- Admittedly, the details supplied by the assessee in its return of income are not found to be incorrect or erroneous or false. The Assessing Officer has disallowed fees paid to Registrar of Companies for increase in the share capital treating the same to be capital expenditure. Thus, it is a case where the assessee’s claim that the expenditure incurred is revenue expenditure is found by the Assessing Officer to be not sustainable in law. But, that, by itself, will not amount to furnishing of inaccurate particulars so as to expose the assessee to penalty u/s 271(1)(c) of the act. See CIT Vs. Reliance Petroproducts Pvt.Ltd. – (2010 (3) TMI 80 - SUPREME COURT ). - Decided in favour of assessee
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