company claimed expenses u\/s 35D which were allowed in assessement. then AO reopened a case and disallowed the same and said it was wrongly allowed earlier which resulting in decreased in losses and levied penalty u\/s 271(1)( c). now case is pending before ITAT for the allowance of an expenditure and Appeal is pending before CIT(A) for penalty u\/s 271(1)(c). Company is a loss making company and the case is related to AY 2007-08<\/p>\n","protected":false},"excerpt":{"rendered":"
company claimed expenses u\/s 35D which were allowed in assessement. then AO reopened a case and disallowed the same and said it was wrongly allowed earlier which resulting in decreased in losses and levied penalty u\/s 271(1)( c). now case is pending before ITAT for the allowance of an expenditure and Appeal is pending before CIT(A) for penalty u\/s 271(1)(c). Company is a loss making company and the case is related to AY 2007-08<\/p>\n