Incorrect claim would not tantamount to furnishing of inaccurate particulars

CA Prarthana Jalan Hon’ble Delhi ITAT has in the case of ACIT V/S M/s.Beekman Heiix India Consulting P. Ltd.has held that Incorrect claim would not  tantamount to furnishing of inaccurate particulars and penalty u/s 271(c ) should not be levied on it.In the assessment framed disallowances on 3 heads i.e (i) Call option fees of Rs. 53,12,500/- was disallowed in full. (ii) Feasibility study charages of Rs. 11,93,827/- was treated as mortizable expenses u/s 35D and 4/5th of these were disallowed. (iii) Disallowance of Rs. 2,13,126/- u/s 14A. Hon’ble CIT(A) had sustained the disallowa...