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2018 (8) TMI 1783 - HC - Income TaxPenalty u/s. 271(1)(c) - exemption under sections 11 and 12 denied - CIT(A) deleted the penalty on the ground that assessee has succeeded before the Gujarat High Court in quantum additions. Same was the view expressed by the Tribunal - HELD THAT:- Though neither CIT(A) nor Tribunal have based the conclusions on the question of very imposability of penalty, to us it plainly appears that even if the judgement in case of Ahmedabad Urban Development Authority (2017 (5) TMI 1468 - GUJARAT HIGH COURT) were to be reversed and quantum additions were to be sustained, there is no question of imposing penalty. All along AUDA had filed its return and put forth the exemption claimed. Though such a claim is granted is not besides the point. This is not a case where a totally unsustainable and fictitious claim is put forth. This is a case where a statutory body has been contending that looking to its creation, constitution and kind of activities carried on, exemption under the Act is available. This claim is accepted by the Gujarat High Court in a detailed reasoned judgment - Under the circumstances, in any eventuality no case of penalty is made out. Tax Appeal is therefore dismissed.
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