No penalty u/s 271(1)(c) if claim is made on the basis of orders of earlier years and entire facts are within are within the knowledge of Revenue:

AO levied penalty u/s 271(1)(c) which was deleted by lower appellate authorities after finding that the claim in respect of which penalty was levied was made on the basis of orders of earlier years and entire facts were within the knowledge of the Revenue. The said view was upheld by the Hon’ble High Court also.

[SOMA TEXTILES AND INDUSTRIES LTD. - TAX APPEAL NO.205 of 2012 - GHC]