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2021 (3) TMI 261 - AT - Income TaxPenalty proceedings u/s 271(1)(c) - disallowance in deduction claimed u/s 35(2AB) - HELD THAT:- Since the quantum addition is also deleted by the Tribunal [2019 (1) TMI 20 - ITAT BANGALORE] there is no question of levying of any penalty and the CIT(A) has rightly deleted the penalty on the basis of the order of the Tribunal of quantum additions. Accordingly, we confirm the finding of Ld. CIT(A) in deleting the penalty. Appeal filed by the revenue is dismissed.
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