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2020 (12) TMI 611 - HC - Income TaxPenalty levied u/s 158BFA - inflated agricultural income, which was not declared by the assessee while filing return in Form 2D and on deficiency of closing stock that came to light on physical verification during the course of search - Tribunal deleted penalty - Whether Tribunal was right in upholding the direction of the CIT(A) not to treat the disclosed income as NIL as per Section 158BB(1)(ca) read with Clause (a) of Section 158B when the assessee's salary income in this case is above exempted level and no TDS was made on the salary ?- HELD THAT:- at the above appeals are not pursued by the Revenue on account of the low tax effect in terms of Circular No.17/2019 dated 08.8.2019 issued by the Central Board of Direct Taxes. The above tax case appeals are dismissed on account of the low tax effect. The substantial questions of law raised are left open. In the event the tax effect in the respective cases is above the threshold limit fixed in the said circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeals to be heard and decided on merits.
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