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2018 (4) TMI 13 - ITAT MUMBAIPenalty u/s 271(1)(c) - Held that:- Addition on account of disallowance of commission payment has already been deleted, therefore, the penalty levied on disallowance of commission payment would not survive. Disallowance consists of foreign travel expenses - Admittedly, the disallowance of foreign travel expenses was made on adhoc basis. It is settled law that no penalty is leviable on the disallowance/addition made on mere estimation basis. Thus the penalty levied by Assessing Officer is deleted. - Decided in favour of assessee
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