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2023 (6) TMI 811 - AT - Income TaxPenalty u/s 271(1)(c) - willful concealment v/s mistake on human error - addition made towards expenditure incurred on raising authorized share capital - As argued Appellant has provided all the necessary evidences and the same is supported by various Judicial Pronouncements - HELD THAT:- The Delhi High Court in the case of CIT vs. Brahamputra Consosium Ltd. [2011 (8) TMI 8 - DELHI HIGH COURT] on similar facts held that the claim of deduction of the fee paid to ROC to increase the authorized share capital though cannot be treated as revenue expenditure, however, penalty cannot be imposed as the assessee had not filed any wrong particulars of income or made a false claim. Similarly in the case of Jefferris India Pvt. Ltd. [2019 (4) TMI 279 - ITAT MUMBAI] also held that no penalty can be imposed u/s. 271(1)(c) of the Act on account of disallowance of expenses incurred for increase of authorized share capital since no penalty can be imposed when there was no willful concealment and mistake involved only a human error - Decided against revenue.
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