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2013 (8) TMI 971 - ITAT MUMBAIExtract: .......slature has used the word “may” in the impugned section. 11. We, therefore, set aside the order of the CIT(A) and direct the AO to delete the penalty levied at ₹ 7,99,160/- u/s 221(1) of the Income Tax Act, 1961. 12. In the result, the appeal filed by the assessee is allowed. Order pronounced in the open Court on 7th August, 2013.
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