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2019 (1) TMI 800 - HC - Income TaxPenalty u/s 271(1)(c) - particular claim made by the assessee was due to bonafide oversight or error - Held that:- We have no hesitation in accepting the contention of the learned counsel of the Revenue that merely because the assessee surrenders certain income during assessment which is contrary to the claim in the return filed, he automatically gets immunity from penalty. In the decision in the case of MAK Data P Ltd [2013 (11) TMI 14 - SUPREME COURT] held that the assessee's contention that the income was offered to tax to by peace by itself would not be an immunity from penalty. As is well settled, the penalty may still not be sustained. Reliance in this respect can be made to the decision of the Supreme Court in the case of Price Warehouse Coopers Pvt Ltd Vs. CIT [2012 (9) TMI 775 - SUPREME COURT]. It was well settled that every wrong claim or a claim which has been rejected during the assessment would not automatically result into penalty proceedings. In the present case, the Commissioner (Appeals) and the Tribunal concurrently held that the claims of the assessee which were withdrawn during the assessment itself was a pure mistake and oversight. The appeal is dismissed.
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