2010 (12) TMI 106

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..... ue debatable – Penalty not attracted
SIKRI A. K., SURESH KAIT, JJ JUDGMENT The delay of 90 days in refilling the appeal is condoned for the reasons stated in the application. 2. Application stands disposed of I.T.A No. 1866 of 2010 3. In the return filed by the assessee interest accrued on FDR was not offered for tax. While making that addition, the Assessing Officer also initiated pena .....

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..... 666 could not be adjusted against pre\x7f operative expenses as claimed by the assessee. The claim made by the assessee was based upon a few decisions of the court, but it was not accepted by the Assessing Officer. That does not mean that there was any non\x7f disclosure of material facts, which could warrant levy of penalty. The learned Departmental representative could not controvert the afore s .....

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