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2019 (4) TMI 703 - AT - Income TaxPenalty u/s 271(1)(c) - disallowance u/s 14A - quantum proceedings remanded back - HELD THAT:- Without entering into merits of this case the penalty proceedings are not sustainable, hence deleted, as the quantum proceedings have already been remanded back to the AO to decide afresh. So, AO is at liberty to initiate the penalty proceedings, if any, after passing fresh assessment order. Consequently appeal filed by the revenue as well as Cross Objection filed by the assessee are allowed for statistical purposes.
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