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2014 (2) TMI 803 - AT - Income TaxConfirmation of penalty u/s 271(1)(c) of the Act Held that:- The penalty has been levied on account of disallowance of expenses under various heads on ad-hoc disallowance out of expenses, no penalty under Section 271(1)(c) is leviable the decision in CIT Vs. Reliance Petroproducts Pvt.Ltd. [2010 (3) TMI 80 - SUPREME COURT] followed - Where there is no finding that any details supplied by the assessee in its return are found to be incorrect or erroneous or false there is no question of inviting the penalty under section 271(1)(c) thus, the penalty is set aside Decided in favour of Assessee.
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