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2019 (6) TMI 933 - GUJARAT HIGH COURTPenalty u/s 271(1)(c) - non grant exemption u/s 11 and 12 - pendency of SLP against order of quantum deletion - HELD THAT:- In view of the decision of this Court in the case of C.I.T. vs. G.I.D.C. [2017 (7) TMI 811 - GUJARAT HIGH COURT] the assessee would be entitled for benefit under Sections 11 and 12 of the Act. As Revenue submitted that the decision in the case of Commissioner of Income Tax vs. G.I.D.C. on which the Appellate Tribunal has placed reliance is a subject matter of challenge before the Supreme Court. Pendency of the S.L.P. before the Supreme Court by itself would not be the reason to admit this appeal. Since the quantum addition has been deleted by this Court in the case of C.I.T. vs. G.I.D.C, the penalty being consequential would not survive. We see no good reason to admit this appeal. The Tribunal cannot be said to have committed any error in passing the impugned order. - Decided against revenue
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