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2008 (2) TMI 54 - PUNJAB AND HARYANA HIGH COURTDelay returns – default in payment of advance tax - Additions made in reassessment on account of undervaluation - Tribunal was right in law in holding that since the entire addition made by AO in reassessment, has been deleted, there is no case for sustaining penalties u/s 271(1)(a), 273(2)(aa) & 271(1)(c) – even if reference application u/s 256(2) filed against the deletion of addition is pending before HC for adjudication, penalty were rightly set aside by tribunal – revenue appeal dismissed
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