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2022 (6) TMI 333 - AT - Income TaxPenalty u/s 271(1)(c) - concealment of income or furnishing inaccurate particulars of income - HELD THAT:- As assessee has paid the tax on the addition sustained by CIT(A) in the subsequent year. Therefore, in our considered opinion, the case of the assessee is not a fit case to impose penalty u/ 271(1)(c) of the Act. Therefore, we inclined to delete the penalty imposed by A.O which has been confirmed by the CIT(A). Accordingly, we set aside the penalty order passed by A.O and also the order of CIT(A) by allowing the grounds of appeal.
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