Tribunal held that the assessee had incurred expenditure under the heads repairs and collection charges, expenditure on tourist buses and interest on housing loan. The Department had not questioned the genuineness of the expenditure. Even at the time of hearing, the Department did not produce any evidence suggesting that the assessee had not incurred these expenses. Therefore, these expenses were genuine. All the facts were disclosed and the claim was made for deduction on expenditure incurred by the assessee. As per record the assessee had made a bona fide claim. The Assessing Officer as well as the Commissioner (Appeals) had not challenged the genuineness or bona fides of the expenditure so incurred. The claim of the assessee was also supported by various decisions and documentary evidence placed on the record. Thus, penalty could not be levied where a bona fide claim of the assessee was rejected by the Department. This was not a fit case for levy of penalty under section 271(1)(c). (AY.2013-14)