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2017 (5) TMI 257 - HC - Income TaxPenalty levied under section 271(1)(c) - claim of weighted deduction on purchase of the motor vehicles for employees - Held that:- As observed by the Hon'ble Supreme Court as well as this Court in catena of decisions, mere wrong claim cannot be a ground to levy penalty under section 271(1) (c) of the Act. Under the circumstances and considering the decision of the Hon'ble Supreme Court in the case of Tips Industries P. Ltd. (2010 (1) TMI 50 - BOMBAY HIGH COURT ) when the learned tribunal has deleted penalty under section 271(1)(c) of the Act, it cannot be said that the learned tribunal has committed any error. No substantial question of law arise. - Decided in favour of assessee
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