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2011 (11) TMI 498 - ITAT DELHIPenalty u/s 271(1)(c) – deduction u/s 80IA(4) claimed on belief that the nature of their activities fell under the work of infrastructure facility – Held that:- Mere erroneous claim in the absence of any concealment or furnishing of inaccurate particulars, is no ground for levying penalty, especially when there is nothing on record to show that any material particulars were concealed or furnished inaccurate as decided in CIT Versus BACARDI MARTINI INDIA LTD [2006 (9) TMI 104 - DELHI HIGH COURT]. Claim for deduction u/s 80IA was duly supported by the certificate of the chartered accountant in the prescribed form. In these circumstances, no fault can be found with the claim of the assessee that it had claimed the deduction in a bona fide manner. Thus levy of penalty is not justified - Decided in favor of assessee.
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