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2015 (10) TMI 2497 - AT - Income TaxPenalty u/s 271(1)(c) - claim of capital gain tax, property tax and fringe benefit tax not an allowable deduction - CIT(A) deleted the penalty - Held that:- It is observed that the assessee is a Cooperative society and an undertaking to Government of Punjab. It is claimed that the assessee had engaged a professional for preparing and filing of the income tax return. It is stated that assessee has submitted revised computation during the course of assessment proceedings and there was no intention to conceal the income. Furthermore, the assessee had duly paid tax on the impugned amounts of capital gains tax and property tax sue motto, but due to inadvertent mistake on the part of the counsel, this amount of capital gains tax and property tax paid were not added back resulting into refund. In our view, the Ld. CIT(A) has correctly observed that the mistake of not adding back the impugned amounts in the statement of income was of the then counsel and moreover it cannot be said that anyone had been benefitted by not adding back the impugned amount, since the assessee is an undertaking of Government of Punjab. In our opinion, the order of CIT(A) is based on appreciation of facts and therefore, we decline to interfere with the order of CIT(A). - Decided against revenue
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