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2013 (11) TMI 148 - AT - Income TaxPenalty u/s 271(1)(c) – Inaccurate particulars of income – Expenses on education of son of managing director named as Staff and labour training expenses – Held that:- The assessee could not furnish details when the son of the managing director of the assessee-company returned from abroad and when he joined the assessee-company and could not give any detail of any of the resolution passed in favour of the person who entered into an agreement with son of the managing director of the assessee-company – Assessee relied on the decision in the case of Mukeshchandra A. Lakdawala v. ITO - The assessee has been charged for both the default and this is not permissible under law - The assessee has not raised the ground before CIT(A) – The issue is remitted back to the files of CIT(A) for fresh adjudication - Decided in favour of Revenue.
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