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2013 (7) TMI 412 - ITAT MUMBAIPenalty u/s 271(1)(c) - as per AO income from commission/consultancy etc. received from his employer is business income instead of salary income - CIT(A) deleted the penalty as the corresponding addition made to the total income of the assessee was merely as a result of change of head of income - Held that:- As decided in case of Reliance Petroproducts Pvt. Ltd. [2010 (3) TMI 80 - SUPREME COURT] merely making a claim, which is not sustainable in law, by itself, will not amount to furnishing of inaccurate particulars regarding the income of the assessee. As noted by the CIT(A) in his impugned orders that full disclosure was made by the assessee regarding the nature of his income which was also reflected in the certificate issued by the employer. Even the genuineness of the expenditure claimed to be incurred by the assessee for earning commission income etc. was not doubted by the A.O. The assessee thus cannot be said to be guilty of furnishing inaccurate particulars of his income - In favour of assessee.
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