2012 (10) TMI 1137

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....ate Tribunal (ITAT) dated 13th April, 2011 in ITA No. 44/PNJ/2009 pertaining to the Assessment Year 2005-06. ( 2. ) The appeal is admitted on the following question of law : Whether on the facts and in the circumstances of the case, the Tribunal was justified in sustaining penalty which was levied merely on the basis that the appellant had made a claim for deduction in its return which was subseq....

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....n the disclosed material, the appellant sought the deduction which was denied on the ground that it was not entitled to the same as a matter of law. The Tribunal was in error in holding that merely because the claim for deduction was denied the appellant is liable to pay a penalty. The question raised is answered in favour of the assessee by the judgment of the Supreme Court in Commissioner of In....