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2014 (5) TMI 812 - ITAT DELHIPenalty u/s 271(1)(c) of the Act – Disallowance u/s 14A of the Act – Interest on delayed payment – Held that:- The authorities have not recorded any finding that the explanation offered by the assessee before the AO was found to be false – Following COMMISSIONER OF INCOME-TAX Versus RELIANCE PETROPRODUCTS PVT. LTD. [2010 (3) TMI 80 - SUPREME COURT] – where there is no finding that any details supplied by the assessee in its return are found to be incorrect or erroneous or false there is no question of inviting the penalty u/s 271(1)(c) - A mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee - Such a claim made in the return cannot amount to furnishing inaccurate particulars - the sole ground of the assessee is allowed and the penalty order as well as order is set aside – Decided in favour of Assessee.
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