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2015 (7) TMI 295 - HC - Income TaxPenalty under Section 271(1)(c) - disallowance of deduction in respect of the work done on the roof of the factory - ITAT delted penalty levy - Held that:- Though the quantum appeal has been decided against the assessee, there is nothing to indicate that the respondent suppressed any fact or that the respondent misled the authorities. It was a legal contention. In these circumstances, the Tribunal’s reliance upon the judgement of the Supreme Court in CIT Vs Reliance Petroproducts Pvt. Ltd., [2010 (3) TMI 80 - SUPREME COURT] was well founded. Decided against revenue.
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