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2013 (11) TMI 6 - ITAT AHMEDABADPenalty u/s 271(1)(c) of the Income Tax Act – Held that:- Addition made due to difference in production sheet and excise records. From the facts of the case, we find that this discrepancy arose because proper reconciliation of records could not be arrived at by the assessee due to the cumbersome process of production – Therefore, relying upon the judgment in the case of Navjivan Oil Mills v. CIT, [2001 (7) TMI 81 - GUJARAT High Court], this is not a fit case for levy of penalty – No penalty - Decided in favor of Assessee.
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