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2011 (2) TMI 957 - HC - Income TaxPenalty u/s 271 - Tribunal deleted penalty levy - Held that:- A concurrent finding has been recorded on facts that there was valid explanation that the assessee had raised debatable issue for claiming the expenditure and disallowance is no ground for levying penalty. Mere erroneous claim in absence of any concealment or giving of inaccurate particulars is no ground for levying penalty - Appeal is dismissed
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