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2016 (6) TMI 1312 - AT - Income TaxLevy of penalty u/s.271(1)(c) - disallowance of claim of deduction made u/s.80IA(4) - Held that:- It is assessee’s submission that the facts in the year under appeal are identical to that of earlier years in which the Hon’ble Gujarat High Court has admitted the appeals of the assessee. The aforesaid facts, have not been controverted by Revenue. In the present case, since the penalty has been levied on the issue which is already before the Hon’ble Gujarat High Court and in view of the fact that the assessee was allowed deduction in AY 2006-07, we are of the view that the issue of penalty on such claim needs to be remanded back to the file of AO for deciding it on the basis of the decision in quantum appeal which is before the Hon’ble Gujarat High Court and in accordance with law. We therefore without expressing our view on the merits of the case, restore the issue back to the file of ld.AO. Thus, grounds of assessee’s appeal are allowed for statistical purposes.
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