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2018 (10) TMI 723 - AT - Income TaxLevy of penalty u/s. 271(1)(c) - AO has assessed surplus from sale of property at Badlapur under the head ‘Income from business’ as aginst assessee’s admission under the head ‘Income from long term capital gain’ - Held that:- once addition on which penalty was imposed u/s 271(1)(c) has been deleted, then there is no reason to levy penalty for furnishing inaccurate particulars of income - No penalty - Decided against the revenue.
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