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No penalty to be levied u/s 271(1)(c) where the additions made by the AO is deleted – ITAT Delhi

M/S ADMACH AUTO LIMITED, ITA NO. 9543/DEL/2019

Held: 

The Hon’ble ITAT Delhi in its judgement held that “Since the Tribunal has deleted the addition made by the Assessing Officer and sustained by the CIT(A), therefore, the very basis on which penalty was levied does not survive” 

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