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2023 (8) TMI 443 - ITAT AHMEDABADPenalty u/s 271(1)(c) - substantive addition made of unexplained investment in purchase of land in Kotali - HELD THAT:- On due consideration of the facts and circumstances, and the submissions of both the parties, and the order of the ITAT [2021 (11) TMI 1163 - ITAT AHMEDABAD][having deleted the additions on which penalty was levied u/s 271(1)(c) of the Act for both the assessment years, there remains no basis for levy of penalty. Decided in favour of assessee.
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