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TMI Blog2015 (1) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... position of penalty u/s 271(1)(c) of the Act and had come to a correct conclusion that two disallowance of expenditure is only an incorrect claim and does not amount to concealment of income. The conclusions /findings of the CIT(A) have not been dispelled by the revenue. The CIT(A)’s reliance on the various case laws on the subject is apt to the facts of this case. The revenue in its grounds of ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the department is directed against CIT(A) order dated 21.6.2013. The relevant assessment year is 2007-08. 2. The solitary issue that arises for our consideration is whether the CIT(A) is justified in deleting the penalty imposed u/s 271(1)(c) of the Act amounting to ₹ 4,37,711/-. 3. Briefly stated the facts of the case are as follows:- That assessment u/s 143(3) was completed on 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the penalty order the assessee preferred an appeal before the Ld. CIT(A} who vide Its order dated 21.6.2013 deleted the entire penalty holding that there is no element of concealment in cases where the assessee has claimed certain expenses as deductible and those expenses have subsequently been disallowed by the A.O. Ld. CIT(A) placed reliance on decision in CIT vs Reliance Petro products Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in CIT vs Rubber Udyog Vikas P. Ltd, 335 ITR 558. iii) The appellant craves for the permission to add, delete or amend the grounds of appeal before or at the time of hearing of appeal. 7. Ld. Authorised Representative reiterated the assesee s submissions made before the Income Tax Authority and supported the findings of the CIT(A). 8. We have heard rival submissions and perused t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claim would not tantamount to furnishing of inaccurate particulars unless it is established that assesee has acted with malafide intention. The decision relied on by the revenue is in no way helpful to the case of the revenue. On the contrary it help the assessee s case. For the aforesaid reason, we are of the view that CIT(A) s order is correct and in accordance with law and no interference is c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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