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2019 (7) TMI 435 - AT - Income TaxLevy of penalty u/s. 271 (1) (c) - cash deposits in the bank accounts - ex-parte order - no explanation - HELD THAT:- CIT(A) has given valid reasons for sustaining the penalty levied by the AO u/s. 271 (1) (c). Assessee had not given any proper explanation either before the AO or before the CIT(A) for such huge cash deposits in the bank accounts. There is nothing on record to controvert the penalty sustained by the CIT(A). Under these circumstances the order of the CIT(A) is in accordance with law therefore, uphold the same and grounds raised by the assessee are dismissed.
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