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2016 (3) TMI 1336 - ITAT KOLKATAPenalty levied u/s. 271(1)(c) - addition u/s 43B - addition of duty, cess, taxes and EPF as payments have been made after due date in the relevant years - Held that:- The assessee has filed complete particulars in respect to claim of deduction u/s. 43B of the Act and when all particulars were filed in the Tax Audit Report and its computation of income along with return of income, it cannot be a case of furnishing of inaccurate particulars of income or concealment of income. It is only a case of opinion whether the deduction is to be allowed or not. Once this is the case, the assessee is not liable for penalty u/s. 271(1)(c) of the Act. Respectfully following the decision of Hon’ble Supreme Court in the case of Reliance Petro Products Pvt. Ltd. [2010 (3) TMI 80 - SUPREME COURT ], we confirm the order of CIT(A) deleting the penalty. Appeal of revenue is dismissed.
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