TMI Blog2019 (1) TMI 1530X X X X Extracts X X X X X X X X Extracts X X X X ..... Pharma Plan India Ltd. together with copy of GMP audit report thereon during the course of penalty proceedings. We hold that these details were not appreciated by the authorities below during the penalty proceedings. We further hold that levy of penalty is not automatic. The assessee had duly furnished all relevant details during the course of penalty proceedings. Moreover, mere disallowance of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act in the facts and circumstances of the case. 3. Brief facts on this issue are that the assessee filed its return of income for A.Y. 2009-10 on 29.9.2009 declaring total income at ₹ 80,44,178/-. Assessment for A.Y. 2009-10 was completed u/s. 143(3) of the Act dated 30.11.2011 determining the total income at ₹ 87,17,930/-. In the said assessment, the disallowance was made on a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arma Plan India Ltd. to the tune of ₹ 2,80,900/- 5. Learned AR before us submitted that description of bills specifically contained that the payment was made by the assessee for conducting Goods Manufacturing Practice Audit (GMP Audit) and copy of the audit report was also placed on record before the lower authorities during the course of penalty proceedings. Hence, it was pleaded that se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the rival submissions. It is not in dispute that penalty u/s. 271(1)(c) of the Act has been levied in the instant case on the ground that the assessee had furnished inaccurate particulars of income. We find that the assessee had furnished entire details indicating nature of services rendered by NNE Pharma Plan India Ltd. together with copy of GMP audit report thereon during the course of penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X
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