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2018 (7) TMI 2164 - ITAT MUMBAIPenalty u/s 271(1)(c) - disallowance of provision for excise duty payable amounting to ₹ 30,00,000/- by invocation of section 43B - HELD THAT:- We find ourselves in agreement with the submission of the learned counsel of the assessee that all the necessary particulars were duly disclosed by the assessee - There is no case of concealment of income or furnishing of inaccurate particulars of income. In this regard, the case laws relied upon by the Commissioner of Income Tax (Appeal) and as canvassed by the learned counsel of the assessee are germane and support the case of the assessee. As held in the case of Reliance Petroproducts Pvt. Ltd.. [2010 (3) TMI 80 - SUPREME COURT], the disallowance of a claim made by the assessee cannot itself give rise to levy of penalty under section 271(1)(c) of the Act. Accordingly, in the background of aforesaid discussion and precedent we do not find any infirmity in the order of the ld. Commissioner of Income Tax (Appeals). Accordingly, we uphold the same. Appeal filed by the Revenue stands dismissed
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