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| The Tax Publishers2019 TaxPub(DT) 4611 (Mum-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
Mere disallowance of the expenses claimed by the assessee would not lead to levy of the penalty under section 271(1)(c).
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Penalty under section 271(1)(c) - Leviability - Disallowance of education expenses -
AO disallowed education expenses alleging that there was no nexus with the income against which expenditure was claimed and initiated penalty under section 271(1)(c) for furnishing inaccurate particulars. Assessee contended that mere disallowance of claim would not automatically lead to levy of penalty. Held: In the absence of any finding that assessee had furnished inaccurate particulars of income or concealed its income, penalty under section 271(1)(c) could not be levied merely because expenses claimed by assessee were disallowed.
Relied:CIT v. Reliance Petroproducts Pvt. Ltd. (2010) 322 ITR 158 (SC) : 2010 TaxPub(DT) 1683 (SC)
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2010-11
IN THE ITAT, MUMBAI BENCH
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