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2012 (7) TMI 359 - ITAT, DELHILevy of penalty u/s 271(1)(c) - penalty levied on account of reduction in the claim made by the assessee u/s 80IB - Held that:- Penalty merely because the claim in the revised return has been reduced is not warranted as Section 271(c) contemplates levy of penalty if assessee conceals the particulars of total income as is referred in S. 2 (45) or furnishes inaccurate particulars of such total income - there is no finding that any details supplied by the assessee in its return were found to be incorrect or erroneous or false - A mere making of the claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars - decided in favour of assessee.
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