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2014 (7) TMI 1164 - ITAT KOLKATALevying penalty u/s 271(1 )(c) - addition u/s 2(22)(e) - Held that:- Addition on account of deemed dividend no penalty u/s. 271(1)(c) of the Act for concealment or furnishing inaccurate particulars of income is warranted. In the case of Sunil Chandra Vohra Vs. ACIT (2009 (6) TMI 682 - ITAT MUMBAI) wherein the ignorance of the provisions of section 2(22)(e) of the Act was held to be reasonable cause for deleting the penalty. Also see case of Dr. Minati Chakraborty [2010 (7) TMI 1027 - CALCUTTA HIGH COURT] - Decided in favour of assessee
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