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2014 (11) TMI 106 - HC - Income TaxDisallowance of depreciation – Genuineness of transactions - Held that:- The Commissioner as well as the Tribunal found that there is no concealment of particulars of income nor furnishing of inaccurate particulars of income for the assessment year – there was no merit in the contention of the revenue - there was no concealment nor the particulars have been termed as inaccurate and for the subject AY - It is on these findings that the penalty has been deleted – the order of the Tribunal is upheld – Decided against revenue.
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