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2017 (5) TMI 1681 - ITAT MUMBAIPenalty u/s 271(1)(c) - excess amount of deduction claimed u/s 35(2AB) - HELD THAT:- We find that in the certificate dated 26.09.2008 the auditor has certified that (i) the assessee-company has maintained separate accounts for the R&D Centre approved by DSIR u/s 35 (2AB) and (ii) the accounts have been satisfactorily maintained and the expenditure certified are also in consonance with DSIR guidelines. The assessee-company’s claim for weighted deduction is supported by the auditor’s certificate as per the Form prescribed by the DSIR. In the present case, the auditor’s certificate for the approved R&D unit has certified the total eligible expenditure for weighted deduction u/s 35(2AB) at ₹ 15.84 crores. From the above, it is clear that the assessee-company has claimed weighted deduction on the basis of tax audit report and the auditor’s certificate. In Reliance Petroproducts (P) Ltd. [2010 (3) TMI 80 - SUPREME COURT] held that merely because assessee had claimed expenditure, which claim was not accepted or was not acceptable to the revenue, that by itself would not attract penalty u/s 271(1)(c) - Decided in favour of assessee
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