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2005 (1) TMI 39 - HC - Income TaxPenalty - "Whether, Tribunal was justified in law in deleting the penalty under section 271(1)(c) amounting to Rs. 73,000 by holding that Explanation 1 to section 271(1)(c) has not been invoked by the Assessing Officer ignoring the fact that Explanation 1 to section 271(1)(c) is an integral part of section 271(1)(c)?" – Tribunal has given other reasons for not sustaining the penalty - In impugned order, Tribunal did make a reference to some other factors which could justify the annulment of the penalty order, but he rested his conclusion mainly on the ground that the Assessing Officer could not have invoked Explanation 1 to section 271(1)(c) of the Act without giving an indication of the same in the notice issued to the respondent. - the appeal is allowed. - order passed by the Tribunal is set aside and the case is remanded to it for fresh adjudication of the appeal filed by the respondent.
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