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2018 (6) TMI 419 - ITAT DELHIPenalty u/s 271(1)(c) - unexplained money u/s 69A - Held that:- Mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee. Such claim made in the Return cannot amount to the inaccurate particulars. See CIT vs. Reliance Petro Products Pvt. Ltd [2010 (3) TMI 80 - SUPREME COURT ] Assessee explained his genuine mistake and has surrendered the said amount to the Revenue Authorities and offered to tax. Therefore, the same cannot be held as act of furnishing inaccurate particulars on part of the assessee. Thus, the order of CIT(A) is set aside and appeal of the assessee is allowed.
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