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2015 (6) TMI 1172 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance u/s. 43B - VRS payment claimed excessively came to their notice during the course of scrutiny - Held that:- As rightly pointed out by CIT(A), with regard to the VRS claim as soon as it had come to the notice of the assessee the same was accepted. In fact it was the assessee, who brought the same to the notice of the Assessing Officer. Similarly copy of printed annual report of 2003-04 shows consolidated prior period figures for all the units and having regard to the circumstances of the case learned CIT(A) observed that it was not in the nature of furnishing inaccurate particulars, even though the claim was not allowable. CIT(A) also observed that disallowance u/s. 43B is merely a technical disallowance and it cannot be inferred that it amounts to furnishing of inaccurate particulars or concealment of income. In our opinion the order passed by CIT(A) is based on cogent material and hence deserves to be accepted. Since explanation given by the assessee is substantiated by furnishing relevant particulars. It is for the Revenue to prove that the explanation furnished by the assessee is false. Whereas in the instant case no such material was furnished by the Revenue - Decided against revenue.
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