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2014 (7) TMI 1262 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance made u/s 40(a)(ia) - Held that:- The disallowance has been made only on the reason that TDS has not been deducted by the assessee on the said expenditure. Delhi High Court in the case of CIT Vs. AT & T Communications Services India Pvt. Ltd.(2012 (2) TMI 8 - DELHI HIGH COURT ), has held that invoking the provisions of section 40(a)(ia) for making disallowance should not be ground for the levy penalty u/s 271(1)(c) of the Act. Also, in the case of New Horizon India Ltd. Vs. DCIT ( 2010 (5) TMI 653 - ITAT DELHI) the Delhi Bench of the Tribunal has deleted the penalty levied u/s 271(1)(c) of the Act on account of disallowance made u/s 40(a)(ia) of the Act on the ground that the assessee cannot be held guilty of concealment or furnishing of inaccurate particulars of income on account of disallowance made u/s 40(a)(ia) - Decided in favour of assessee.
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