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2022 (1) TMI 1093 - ITAT PUNEPenalty u/s. 271(1)(c) - AO disallowed the excess claim of deduction u/s. 36(1)(viia) on the ground that the assessee had not created the requisite provision - As argued AO was not able to prove that is a fit case for imposition of penalty either under the main part of section u/s. 271(1)(c) or under the deeming provisions of explanation 1 to section 271(1)(c) - HELD THAT:- On perusal of the assessment order, it will clearly suggest that, it is a case of mere disallowance of excess claim for want of creation of requisite provision which, in our considered opinion, does not tantamount to furnishing inaccurate particulars of income, nor can it be said that it is false claim. Therefore, the ratio of decision in the case of Reliance Petro Products Pvt. Ltd. [2010 (3) TMI 80 - SUPREME COURT] is squarely applicable to the facts of the present case. Also on perusal of the assessment order, it will clearly suggest that, it is a case of mere disallowance of excess claim for want of creation of requisite provision which, in our considered opinion, does not tantamount to furnishing inaccurate particulars of income, nor can it be said that it is false claim. Therefore, the ratio of decision of the Hon'ble Apex Court in the case of Reliance Petro Products Pvt. Ltd. (supra) is squarely applicable to the facts of the present case - no fallacy and illegality in the order of the Ld. CIT(A) deleting the penalty u/s 271(1)(c) - Decided in favour of assessee.
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