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2020 (10) TMI 1017 - AT - Income TaxPenalty u/s 271(1)(c) - additions u/s 68 - HELD THAT:- Since the additions on the basis of which the impugned penalty was sustained by the Ld.CIT(A) have already been deleted by the Ld. CIT(A) / ITAT, as such the said additions which were the basis for levying the penalty under section 271(1)(c) of the Act are not in existence, therefore, by respectfully following the ratio laid down in case of the K.C. Builders and Another Vs. Asst. CIT [2004 (1) TMI 7 - SUPREME COURT] impugned penalty sustained by the Ld. CIT(A) is deleted.
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