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2016 (7) TMI 700 - AT - Income TaxPenalty proceedings u/s. 271(1)(c) - disallowance made by the AO with regard to depreciation on goodwill, was deleted by the ITAT while deciding the quantum appeal - Held that:- Penalty order would not survive, once the addition made by the assessee has been deleted in the quantum appeal. Effective Ground of appeal, filed by the assessee, stands decided in its favour.
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