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2010 (2) TMI 881 - AT - Income TaxPenally under s. 271(1)(c) of the Act - assessee had claimed foreign travel expenses of wife of the director who had accompanied her husband on foreign travel - expenditure was disallowed being not relatable to the business of the assessee company - Merely because an expenditure has been disallowed in the hands of the assessee does not automatically make the assessee exigible to levy of penalty under s. 271(1)(c) of the Act - Held that:- no merit in the levy of penalty on disallowance of expenses holding the same to be non-business expenses, appeal of the Revenue is dismissed.
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