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2014 (7) TMI 350 - DELHI HIGH COURTPenalty u/s 271(1)(c) of the Act – Filing of inaccurate particulars – claim for liquidated damages - Held that:- The Tribunal’s reasoning which accepts the assessee’s contentions with a further rationale that it could have committed a silly mistake, is unsustainable - There was no material on the record to support the assessee’s return which claimed an allowance on the basis that the total quantity to be supplied was 3 lakh MT - The first explanation that the figure included the moisture content, is not borne out from the record - it also does not appear to be a part of any condition agreed to between the parties - Commissioner who had occasion to go into the aspect, found it to be untrue – there was no infirmity with the conclusion of the AO and subsequently the Commissioner that the claim for liquidated damages on the basis that 3 lakhs MT were to be supplied, amounted to furnishing inaccurate particulars - The explanation given by the respondent assessee cannot by any stretch of imagination be termed as bona fide so as to escape the mischief of Section 271 (1) (c) of the Act - the order is set aside – Decided in favour of Revenue.
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