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2023 (5) TMI 473 - DELHI HIGH COURTPenalty order u/s 41 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 - HELD THAT:- According to us, the second aspect of the matter to which we have made reference hereinabove by adverting to the provisions of Section 46(4)b) of the B.M. Act, in fact, was not articulated in the reply filed by the petitioner/assessee on 09.03.2023. That being said, the petitioner/assessee’s reply was on record which, for some reason, was not taken into account by the concerned officer while passing the impugned penalty order. To our minds, this alone would be sufficient to set aside the impugned penalty order, with a direction to the concerned authority to conduct a de novo exercise.It is ordered accordingly.
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