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2014 (1) TMI 1934 - AT - Income TaxPenalty levied u/s 271(1)(c) - addition made on account of sale tax subsidy by treating it as revenue receipt as against capital receipt declared by the assessee - HELD THAT:- As decided in own case [2013 (9) TMI 1105 - ITAT CHANDIGARH] in view of the debatable issue raised, the assessee is not exigible to levy of penalty u/s 271(1)(c) of the Act in the facts of the present case where the claim of the assessee that the receipts were capital in nature was rejected and the receipts were held to be revenue in nature and hence taxable. Appeal the Revenue is dismissed.
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