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2016 (12) TMI 1634 - ITAT AHMEDABADPenalty u/s 271(1)(C) - disallowance of exemption u/s 54 - Held that:- A.R. Ms. Ridhi Shah shown and filed an order of the ITAT, where ITAT under Appeal titled as ACIT, Circle-10 Vs. Kalpanaben M. Bhatt [2012 (7) TMI 718 - ITAT, DELHI] for the same assessment year. In this case Co-ordinate Bench of ITAT, Ahmedabad has allowed the quantum appeal of the appellant/assessee. Therefore in such circumstances penalty cannot be levied. - Decided against revenue
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