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2010 (10) TMI 1152 - AT - Income TaxExtract: .......ccordingly, no penalty u/s.271(1)(c) can be levied on addition of ₹ 6,77,256/-. We, therefore, direct the AO to compute minimum penalty under Section 271(1)(c) of the Act on a sum of ₹ 9,43,681/- being the bogus purchases. 9. In result, the asssessee’s appeal is partly allowed. Order pronounced in Open Court on 15th October, 2010.
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