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2012 (7) TMI 489 - AT - Income TaxDeletion of the penalty levied u/s. 271(1)(c)- disallowance u/s 40(a) (ia) , 40A (2) (b) & unexplained expenditure u/s 69C - Held that:- Since the various disallowance made are a debatable issue there is nothing on record to suggest that the assessee had concealed any particulars of his income or furnished inaccurate particulars of such income - merely making a wrong claim does not call for levy of penalty - in favour of assessee.
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