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2007 (10) TMI 223 - HC - Income TaxDt. Commissioner imposed penalty u/s 271(1)(c) for concealment of income – Tribunal uphold the order of CIT of setting aside the order of deputy commissioner – even after giving sufficient opportunity assessee failed to discharged his burden as to why penalty cannot be imposed on him – revenue’s appeal against order of ITAT is allowed – order passed by commissioner & tribunal is accordingly set aside - matter is remitted back to the Deputy Commissioner of Income-tax
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