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2018 (7) TMI 375 - AT - Income TaxPenalty u/s 271(1)(c) - Held that:- We are of the view that in the quantum appeals the issues in dispute has been set aside and restored back to the AO for denovo proceedings and some of the issues were allowed and dismissed, in the aforesaid manner, therefore, the penalty in question involved in both the appeals are set aside to the file of the AO with the liberty to initiate the fresh penalty proceedings, if any, as per Rules in both the appeals and pass a speaking orders. Appeals of the Assessee stand allowed for statistical purposes.
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