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2017 (2) TMI 736 - AT - Income TaxLevy of penalty u/s 271(1)(C) - Disallowance of claim of repairs and maintenance expenses - Held that:- As decided in the case of the assessee itself for AY 2006-07 the issue that whether Repairs and Maintenance in respect of leased buildings was revenue or capital in nature or whether the part of the Foreign Travelling Expenses were for the business purposes of the assessee is clearly debatable in nature. This is a case where the assessee has disclosed all the material facts necessary for assessment at the time of filing of the return itself. The conduct of the assessee in this case was bonafide. In these facts of the case, we are of the view that it is not a fit case for levy of penalty u/s 271(1)(c) of the Act - Decided in favour of assessee
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