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2019 (10) TMI 902 - AT - Income TaxPenalty levied u/s 271(1)(c) - disallowance made u/s 40(a)(ia) - TDS u/s 194C - HELD THAT:- Pursuant to the directions of the Tribunal the AO while giving the effect in his order framed under section 143(3) read with section 254 of the Act deleted the entire additions made in the first round of litigation and accepted the returned income. In the light of the aforesaid stated facts, once the foundation has been removed, the superstructure must fall. Since the basis for the levy of penalty i.e. the disallowances made in the assessment order has been removed, the penalty so levied deserves to be deleted. Therefore, we decline to interfere with the findings of the CIT(A). Appeal filed by the Revenue is dismissed.
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