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2016 (7) TMI 1129 - AT - Income TaxPenalty under section 271(1) (c) - Held that:- CIT (A) has deleted the penalty on the arguments advanced by the assesesse, which were not raised before the assessing officer. Hence, in the interest of Justice we set aside the whole issue of the penalty before the assessing officer with a direction to decide the issue afresh after considering all the arguments raised by the assessee. We also held that that the assessee is further entitled to raise any new/ fresh arguments as the penalty proceedings are separate and independent proceedings then the assessment proceedings and the Ld. AO may decide the issue on merit - Decided in favour of revenue for statistical purposes.
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