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2015 (12) TMI 963 - ITAT LUCKNOWPenalty u/s 271(1)(c) - claim of revenue expenditure u/s 35(2AB) disallowed - Held that:- The claim of the assessee was not accepted by the Assessing Officer for the sole reason that the assessee could not get the approval from DSIR till completion of scrutiny assessment proceedings and therefore, in the facts of the present case, this judgment of Hon'ble Apex Court in CIT vs. Reliance Petroproducts [2010 (3) TMI 80 - SUPREME COURT ] wherein it was held that merely because of the assessee's claim, deduction of the interest of expenses which has not been accepted by revenue, penalty u/s 271(1)(c) not attracted, for merely making of the claim, which is not sustainable in law by itself will not amount furnishing inaccurate particulars of income. - Decided in favour of assessee
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