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2019 (2) TMI 516 - AT - Income TaxPenalty levied u/s 271(1)(c) on transfer pricing adjustment - Held that:- In quantum proceedings for both years under consideration, this Tribunal set aside addition made on account of transfer pricing adjustment back to Ld.TPO for readjudication, in light of submissions/details filed by assessee.We are therefore inclined to set aside penalty proceedings back to Ld.AO by keeping all contentions open for assessee. The Ld.CIT DR do not object penalty proceedings being set aside back to Ld. AO for reconsideration.
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