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2016 (6) TMI 963 - HC - Income TaxPenalty levied u/s. 271(1)(c) - addition on account of non-compete fee - Held that:- This is not a case of non disclosure of the income. The claim made by the assessee was found untenable. The Tribunal therefore, referred to various decisions including that of the Supreme Court in case of CIT v. Reliance Petroproducts Pvt. Ltd., reported in [2010 (3) TMI 80 - SUPREME COURT ] in delting the penalty - Decided in favour of assessee.
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