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2017 (1) TMI 1420 - HC - Income TaxPenalty u/s 271E - violation of section 269T - Held that:- Tribunal has recorded a clear finding of fact with regard to the genuineness and transparency of the transactions, which records categorically that there were no cash or hidden transactions but the transactions were only through bank accounts. Such being the case, the penalty was deleted. In view of the findings recorded by the Tribunal, question of law is answered in favour of the assessee and against the department.
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