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2016 (8) TMI 611 - HC - Income TaxLevy of penalty under Section 271(1)(c) - claim of depreciation - Held that:- Claims have been disclosed by the assessee by way of Notes No.4 and 7 to the Balance sheet and considering the authorities cited at the bar by the learned Counsel for the assessee, this Court is the opinion that this will not amount to concealment and therefore will not attract penalty. We are in complete agreement with the view taken by the CIT (A). Accordingly, Tax Appeal is allowed by answering the issue raised in this appeal in favour of the assessee
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