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TMI Blog2016 (8) TMI 1390X X X X Extracts X X X X X X X X Extracts X X X X ..... t by : Shri N.K. Bansal, Senior DR. ORDER PER G.D. AGRAWAL, VP :- This appeal by the assessee for the assessment year 2009-10 is directed against the order of learned CIT(A)-VI, New Delhi dated 19th February, 2014. 2. The only ground raised in this appeal by the assessee is against the levy of penalty of Rs. 4,34,230/- u/s 271(1)(c) of the Income-tax Act, 1961. 3. We have heard the arguments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the learned counsel for the assessee appearing before us that the assessee's authorized representative accepted the disallowance of 25% of the commission so as to buy peace and to avoid long drawn litigation. He stated that the assessee has furnished confirmation of all the parties to whom the commission was paid. TDS was duly deducted from all the persons. That summon issued u/s 133(6) wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Apex Court, merely because the assessee's claim for any deduction is not accepted by the Revenue, penalty u/s 271(1)(c) of the Act is not attracted. On the facts of the case, the above decision of Hon'ble Apex Court would be squarely applicable. Respectfully following the same, we cancel the penalty levied u/s 271(1)(c) of the Act. 5. In the result, the appeal of the assessee is allowe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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