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2012 (12) TMI 480 - ITAT PUNEPenalty u/s 271(1)(c) – Excess claim of depreciation - Devalued amount has been claimed in the form of depreciation and to that extent excess claim of depreciation has been made by assessee - Machineries are devalued by the company on its own accord even though the machineries are in operation – Held that:- As the statutory auditor itself had pointed out that the excess depreciation claim on certain items of P&M is not in conformity with the concept of block of assets. Inspite of such comments of the auditors the assessee did not reduce the excess depreciation claim while computing the total loss/income. Non-inclusion of Excise duty as per the provisions of section 145A – Held that:- While arriving at the closing stock no adjustment with regard to excise duty was made which is a deliberate violation of the provisions of section 145A. Disallowance of unpaid bonus u/s 43B – Held that:- The assessee has deliberately violated the provisions by not disallowing the unpaid bonus u/s. 43B Therefore, this is a deliberate attempt on the part of the assessee in furnishing of inaccurate particulars of income and making false claim of deduction. The provisions of section 271(1)(c) are clearly attracted. In favour of revenue
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