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2003 (9) TMI 323 - AT - Income TaxExtract: .......of survival of the penalty under the appeal does not survive. The AO, under the law, is at liberty to initiate fresh penalty proceedings, if the facts and circumstances of the case so warrant. 5. In view of the above facts and circumstances of the case, the order of the CIT(A) is confirmed. 6. In the result, the Revenue rsquo s appeal is dismissed.
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