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2015 (9) TMI 1285 - AT - Income TaxPenalty u/s 271(1)(b) - bonafide belief - CIT(A) deleted penalty in part - Held that:- CIT(A having been satisfied to quash penalty in two out of the 7 years infact should have quashed the penalty proceedings in all the years. When the admitted facts are that the seized documents were common to all the group cases numbering 120 in all and at the relevant point of time the cases were partially in Nagpur and partially in Delhi and the counsels infact were facilitating in the process of centralizing the entire group of cases at Delhi from Nagpur the occasion to willfully default does not arise. In fact there is more than sufficient evidence on record to hold that the penalty u/s 271(1)(b) in these admitted facts was not warranted. We have seen that the assessments are concluded u/s 143(3)/153A thereby meaning that shortcoming if any was made good in the assessment proceedings. Thus we quash the penalty of ₹ 10,000/- imposed u/s 271(1)(b) for each of the years and allow the appeals of the assessee. - Decided in favour of assessee.
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