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2021 (7) TMI 1079 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance on account of expenditure on construction of BQS as capital expenditure - HELD THAT:- If we note that identical issue had arisen before this Tribunal in Assessment Year 2007-08 and 2008-09 in assessee’s own case [2020 (1) TMI 1481 - ITAT DELHI] respectively and the Department’s appeals against the deletion of the penalty imposed in these two years to Assessment Years were dismissed by this Tribunal. There is no case of the revenue that the assessee filed inaccurate particulars of income or concealed the income, as all the details in the original return as well as in the revised return was placed before the AO - Merely changing the stand as to how the trade income/expenditure as to be taken as capital or revenue, does not amount to furnishing of inaccurate of particulars or concealment of income. Therefore, the CIT(A) was right in deleting the penalty. There is no need to interfere with the findings of the CIT(A). The facts are identical in A.Y. 2008-09 as well. Therefore, both the appeals of the revenue are dismissed.
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