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2012 (7) TMI 403 - AT - Income TaxLevy of Penalty u/s 271(1)(c) - AO stated that the assessee was not entitled to claim deduction u/s 80HHC - Held that:- Not even a whisper has been made in the penalty order as to which specific particulars were furnished inaccurate or were concealed. The expression 'has concealed the particulars of income' and 'has furnished inaccurate particulars of income' have not been defined either in section 271 or elsewhere in the Act - AO has not been able to establish that the claim of the assessee for deduction u/s 80HHC with respect to export of capital goods which was held to be not derived from business of export was not bona fide or that any specific particulars were concealed or furnished inaccurate. A mere rejection of the claim of the assessee by relying on different interpretations does not amount to concealment of the particulars of income or furnishing inaccurate particulars thereof by the assessee - deletion of penalty levy - in favour of assessee.
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