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2019 (1) TMI 149 - AT - Income TaxPenalty u/s 271(1)(c) - wrong Claim of exemption u/s. 10B - reopening of assessment - bonafide mistake - Held that:- It is not disputed that the deduction was withdrawn by an amendment in law w.e.f. 1.4.2008. Under these facts, more particularly that assessee has been allowed deduction in earlier years, we find force into the contention of the assessee that due to bonafide mistake, claim was made. Therefore, respectfully following the judgement of the Hon'ble apex court rendered in the case of Price Waterhouse Coopers Pvt. Ltd. Vs. CIT (2012 (9) TMI 775 - SUPREME COURT), we direct the A.O. to delete this penalty. - decided in favour of assessee.
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