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2019 (5) TMI 1497 - AT - Income TaxPenalty u/s 271(1)(c) - Addition u/s 68 - HELD THAT:- As quantum proceeding has been set aside by the Hon’ble ITAT in the assessee’s own case for the A.Y.2009-10 [2015 (9) TMI 1651 - ITAT MUMBAI] and the issue has been remanded before the AO, therefore, in the said circumstances, the penalty is not liable in sustainable in the eyes of law. As the quantum is nowhere in existence, therefore, the penalty has no leg to stand. - Decided in favour of assessee.
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