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2013 (9) TMI 1101 - AT - Income TaxPenalty u/s 158BFA(2) - Held that:- Having confirmed the addition made by the AO on account of estimated gross profit merely on the basis that the entries found in the ledger account found in the possession of the third party pertains to the assessee and not on the basis of any material found in the possession of the assessee during the search, penalty under sec. 158BFA(2) of the Act was not leviable. - Decided in favour of assessee
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