In the result, appeal filed by the Revenue is allowed for statistical purposes
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
penalty u/s 271(1)(c) of I.T. Act 1961. 6.2 The appellant has relied on several judicial decisions to argue its case and these were perused. It is observed that the Hon'ble ITAT Bangalore Bench, Bangalore in case of Syndicate Bank Vs. DCIT reported at 78 ITD 103 has concluded that the deduction u/s 36(1) (viia