2014 (2) TMI 803

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... [2010 (3) TMI 80 - SUPREME COURT] followed - Where there is no finding that any details supplied by the assessee in its return are found to be incorrect or erroneous or false there is no question of inviting the penalty under section 271(1)(c) – thus, the penalty is set aside – Decided in favour of Assessee. - ITA No.6126/Del/2012 - - - Dated:- 20-12-2013 - G.D.AGRAWAL AND ABY T. VARKEY, JJ. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lowance out of expenses, no penalty under Section 271(1)(c) is leviable. While taking this view, we rely on the decision of Hon ble Apex Court in the case of CIT Vs. Reliance Petroproducts Pvt.Ltd. [2010] 322 ITR 158 (SC), wherein their Lordships held as under:- "Where there is no finding that any details supplied by the assessee in its return are found to be incorrect or erroneous or false .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X