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2015 (9) TMI 130 - AT - Income TaxPenalty u/s 158BFA(2) - CIT(A) deleted penalty levy - Held that:- CIT(A) mainly granted relief to the assessee by noticing that the SLPs are pending before Hon’ble Supreme Court and issue is debatable but in the light of subsequent order of Hon’ble Apex Court dismissing the SLPs of the Revenue we can safely hold that the issue has attained finality. We also note that the CIT(A) has also not considered the second proviso to Section 158 BFA(2) which is relevant to decide the issue at levy of penalty. Therefore, we deem it just and proper to restore this issue to the file of the CIT(A) for a fresh adjudication for both the APYS in the light of the order of Hon’ble Supreme Court dated 29/10/2012 and second provision to Section 158BFA(2) of the Act and all other relevant provisions of the Act. - Decided in favour of revenue for statistical purposes.
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