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2016 (4) TMI 114 - ITAT DELHIPenalty u/s. 271(1)(c) - non deduction of tds u/s 194A - Held that:- The assessee made a claim but the same was rejected and disallowed not for the reason that the claim was fabricated, but keeping in view the statutory provision of law that the assessee did not deduct TDS thereon. It, therefore, can hardly be said that the assessee had furnished inaccurate particulars of income entailing penalty u/s. 271(1)(c) of the Act. The assessee had offered bona fide explanations before the authorities below and as such, the Assessing Officer was not justified to hold that the case of the assessee is hit by Explanation 1 to Section 271(1)(c) of the Act. We also find that the decisions relied upon by the ld. Counsel for the respondent go to support the case of the assessee, against which no counter material could be adduced on behalf of the Revenue. The ld. CIT(A) also reached his conclusions after following decisions of Hon’ble Supreme Court in the case of Reliance Petroproducts Ltd. [2010 (3) TMI 80 - SUPREME COURT] which do not stand rebutted on behalf of the Revenue. We, therefore, find no justification to interfere with the order of the ld. CIT(A). Accordingly, the appeal of the Revenue is found to have no merits and is liable to fail - Decided in favour of assessee
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