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2011 (6) TMI 808 - AT - Income TaxExtract: .......in the relevant assessment year 2005-06 because the income of capital gain is not at all assessable in that assessment year. Accordingly, we delete the penalty levied and confirmed by lower authorities and this appeal of the assessee is allowed. 7. In the result, the appeal of the assessee is allowed. 8. Order pronounced in open court on 30.6.2011.
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