Penalty u/s.271(1)(c)

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vinodkumar dalpatbhai patel (Querist)
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04 October 2012 Dear sir,

The Land revenue Expense disallowed by
A. O. because of the Expnses was previous financila year and also penalty initiate by him, therefore i request you to reply me regarding Penalty u/s. 271(1)(c) with various court judgement. Should A.O. impose penaly on above disallowed expenses?

Thanks
Vinod

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 October 2012 Supreme court decision in Reliance Petroproducts Pvt Ltd's case , 322 ITR 158 (SC), will help you.
Crux of the decision is ,claim of the assessee if not accepted/ acceptable to the revenue, that itself would not attract penalty u/s 271(1)(c).