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2020 (10) TMI 1126 - ITAT PUNEPenalty u/s.271(1)(c) - disallowance made u/s.40A(3) - HELD THAT:- Assessee filed particulars involving claim u/s.40A(3) but however AO could not find the same as acceptable and proceeded to make disallowance u/s.40A(3) - penalty could not be levied on such disallowance made u/s.40A(3) of the Act only on the basis that the assessee made wrong claim. - Decided in favour of assessee. Penalty imposed on account of addition made u/s.69C - HELD THAT:- We find nothing on record showing that the assessee challenged the same before the Appellate Forum and therefore, taking into consideration the submissions of the Ld. DR, we uphold the order of the Ld. CIT(Appeals) in confirming the penalty levied u/s.271(1)(c) of the Act on account of disallowance made u/s.69C - Decided against assessee. Penalty levied on disallowance made u/s.68 - HELD THAT:- We find no cogent evidences before us as rightly pointed by the Ld. DR supporting the contentions of assessee and showing the addition has been deleted in the quantum proceedings. Therefore, we find no infirmity with the findings of the CIT(A) in confirming the penalty imposed u/s.271(1)(c) of the Act involving the disallowance made u/s.68 - Decided against assessee. Penalty imposed on disallowance made u/s.40(a)(ia) - violation of deduction of TDS on the payment made on account of TDR/Land cost - HELD THAT:- AO initiated penalty proceedings for failure to deduct TDS which itself clearly shows that the there were details regarding the payment involving TDR/land cost in the assessment proceedings which does not any way constitute furnishing of inaccurate particulars nor concealment of income. A mere disallowance as rightly contended by the assessee before the CIT(A) does not attract imposition of penalty. Therefore, the order of the CIT(A) in confirming the penalty imposed against disallowance u/s.40(a)(ia) of the Act is deleted. - Decided in favour of assessee.
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