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2010 (10) TMI 98 - HC - Income TaxPenalty - guest house expenses and the claim of the assessee for interest income from Fixed Deposit Receipts under Section 80HHC of the Act - assessee had filed its return of income for the relevant assessment year much prior to the issuance being finally settled by this Court and the Supreme Court against the respondent-assessee - Held that: - expenses were debatable on the date the respondent-assessee filed its return - no penalty can be levied - appeal is dismissed
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