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2017 (4) TMI 59 - HC - Income TaxPenalty under Section 271 (1) (c) - not offering any amount under Section 14A as well as disallowance under first explanation to Section 37 (1) of expenditure in the nature of penalty paid to the Delhi Development Authority (“DDA”) upon a composition - Held that:- As far as the first disallowance under Section 14A is concerned, the reasoning of the CIT (A) (endorsed by the ITAT that the position in law was in a state of flux and the benefit of doubt could be given to the assessee), is sound. With respect to the disallowance under Section 37 (1), here too, we notice that the CIT (A) had granted relief but that order was set aside by the ITAT. Having regard to these peculiar facts, penalty under Section 271 (1) (c) could not have been imposed. - Decided in favour of assessee.
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