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2014 (6) TMI 394 - AT - Income TaxLevy of penalty u/s 271(1)(c) of the Act – Disallowance of expenses on foreign travel – Failure to furnish the primary evidences – Held that:- Following CIT., Delhi Versus Atul Mohan Bindal [2009 (8) TMI 44 - SUPREME COURT] - the scope of the Explanation 1(B), and with specific reference to the word ‘substantiate’ occurring therein, confirming, as a result, the penalty on an addition of Rs.7 lacs where the assessee was found unable to substantiate its explanation – the order confirms both the position of the law in the matter as well as the fact that the matter is principally factual is to be decided on an appreciation of the facts and circumstances of the case - the assessee have not furnished any explanation nor even the primary details in support of its claim, have therefore no hesitation in confirming the penalty, levied @ 100% of the tax sought to be evaded – Decided against Assessee.
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