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2017 (3) TMI 76 - ITAT DELHIPenalty levied u/s 271(1)(c) - Held that:- For arguments sake, even if it is assumed that assessee has concealed the income by claiming wrong deduction, it does not attract the provisions contained u/s 271(1)(c) in any manner whatsoever because when the assessment of the assessee is completed u/s 143(3), it is for the Revenue to assess the claim made by the assessee in accordance with the law and merely claiming wrong deductions and disallowance thereof by the AO does not amount to concealment of income. In other words, the Revenue has failed to prove that the assessee has concealed particulars of income or has furnished inaccurate particulars of such income so as to attract the provisions contained u/s 271(1)(c). When the assessee has claimed any deduction by not concealing anything and in case the deduction has been disallowed by the AO and assessment order has been confirmed by the CIT (A) it does not amount to concealment of income or furnishing of inaccurate particulars. - Decided in favour of assessee
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