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2012 (10) TMI 63 - JHARKHAND HIGH COURTPenalty u/s 273(2)(c) - ITAT deleted the levy - Held that:- After finding that there is order of assessment of the income including the addition of Rs. 20 lakhs in the income of the assessee, the assessee deposited the advance tax. There was no illegality in the order passed by the ITAT and in view of the order passed by this Court in Tax Case No. 10 of 1999(R) wherein penalty on account of undisclosed income has been set aside after taking note of the assessee that one of the partners of the assessee declared undisclosed income because of the pressure of the searching officer and in fact there was no undisclosed income, thus the Tribunal had not committed any error - in favour of assessee.
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