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2019 (6) TMI 667

..... n deleting the penalty which was levied on account of additions made on ad-hoc disallowance of expenses. See RELIANCE PETROPRODUCTS PVT. LTD. [2010 (3) TMI 80 - SUPREME COURT] . Hence, the appeal of the Revenue is dismissed. - ITA No. 4746/DEL/2014 - 12-6-2019 - Shri R. K. Panda, Accountant Member And Ms Suchitra Kamble, Judicial Member For the Appellant : Sh. S. S. Rana, CIT(DR) For the Responden .....

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..... er. Penalty proceedings u/s 271 (l)(c) were also initiated during the assessment proceedings. Aggrieved with such an order, the assessee preferred an appeal before the CIT(A), where the appeal was dismissed confirming the additions made by the Assessing Officer. On receipt of such order, the Assessing Officer proceeded to complete the penalty proceedings after issuing notice u/s 271(l)(c) of the A .....

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..... by the appellant at every stage of the proceedings. The past history of the appellant s case is also kept in mind. It is a fact that the appellant has not produced books of accounts at any stage of proceedings including the present appellate proceedings. Therefore, the claim made by the appellant that duly audited accounts were submitted by it on the basis of regular books of accounts is a hollow .....

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..... e words in conjunction, they must mean the details supplied in the Return, which are not accurate, not exact or correct, not according to truth or erroneous. We must hasten to add here that in this case, there is no finding that any details supplied by the assessee in its Return were found to be incorrect or erroneous or false. Such not being the case, there would be no question of inviting the pe .....

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..... ition of penalty u/s 271 (1 )(c) of the Act in the case is not justified. The AO s action in imposing the penalty of ₹ 24,90,696/- is therefore, not justified and the same is directed to be cancelled. Grounds of appeal are allowed. 8. In the result, the appeal is allowed. It is held in various decisions of the Hon ble Apex Court and Hon ble High Courts that penalty cannot be levied on additi .....

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