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2014 (7) TMI 1218 - AT - Income TaxPenalty imposed u/s 271(1)(C) - undisclosed income in response to the notice issued u/s 153A - Held that:- CIT(A) was not justified in upholding the penalty levied by the AO in the present case wherein returned undisclosed income in response to the notice issued u/s 153A was accepted by the AO in the assessment framed u/s 153A / 143(3) of the Act. We thus while setting aside orders of the authorities below direct the AO to delete the penalty in question levied in the years in appeals. The ground is accordingly allowed in favour of the assessee.
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