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2022 (3) TMI 1445 - AT - Income TaxPenalty u/s 271C - LTC/LFC involving enroute foreign travel - HELD THAT:- As in assessee’s own case [2021 (2) TMI 28 - ITAT MUMBAI] estimation of income, in the hands of the employees under the head' income from salaries', by the employer was bonafide and reasonable, the very foundation of impugned demands raised under section 201 r.w.s 192 ceases to hold good in law. We must, therefore, vacate these demands. Bearing in mind entirety of the case, we cancel the impugned demands under section 201 r.w.s. 192 as unsustainable in law, thus delete the delete the penalty. Decided in favour of assessee.
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