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2008 (11) TMI 678 - ITAT MUMBAIExtract: .......cannot be initiated for the disallowance made under section 14A of the Act. We, accordingly, do not find any merit in the penalty levied under section 271(1)(c) of the Act and we set aside the Order of the CIT (A) and delete the penalty. 9. In the result, appeal of the assessee is allowed. Order pronounced in the open Court, in this the 12.11.2008.
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