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2018 (2) TMI 1633 - AT - Income TaxPenalty levied u/s. 271(1)(c) - addition u/s 14A - Held that:- As far as levy of penalty on addition u/s. 14A is concerned, the same does not arise as the computation of income under normal provisions was less than the tax computed u/s. 115J. As per the Board Circular referred, the penalty is not warranted on this amount. Hence, to that extent, the action of AO cannot be accepted. Addition made under the provisions of Section 115JB, we are unable to examine whether the claim was deliberate or not? Assessee admitted that it made a ‘conscious claim’. Except stating the same and relying on various case law, no details are filed to examine. In these circumstances, we are unable to come to a conclusion whether it is a bonafide claim or deliberate claim to avoid payment of tax u/s. 115JB. The order of Ld.CIT(A) does not throw any light on these aspects. Devoid of facts, the case law cannot be applied. It is trite law that the case law will apply only based on facts in which it was rendered. In the absence of discussion or examination of facts, it is not possible to adjudicate only on principles of law. In view of that, we hereby set aside the order of AO and CIT(A) on this issue and restore the issue to the file of AO to consider the same afresh on the issues stated above and give clear findings.
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