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2019 (6) TMI 1049 - ITAT MUMBAILevy of penalty u/s.271(1)(c) - disallowance of expenses incurred for appellant's own education at Harward business School - HELD THAT:- The assessing officer while making disallowance concluded that the expenses claimed by the assessee are personal in nature and cannot be linked to the income earned. There is no finding of the assessing officer that the particulars of expenses claimed by the assessee are inaccurate. As relying on RELIANCE PETROPRODUCTS PVT. LTD. [2010 (3) TMI 80 - SUPREME COURT] mere disallowance of the expenses claimed by the assessee would not lead to levy of the penalty. In the result the grounds of appeal raised by the assessee are allowed.
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