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2019 (2) TMI 1372 - AT - Income TaxPenalty u/s 271(1)(c) - assessee has been assessed on MAT as per the provision of the section 115JB - HELD THAT:- It is not in dispute that the original assessment as well as reassessment has been computed at nil income and the tax paid by the assessee is on book profit u/s 115 JB of the Act. In our considered opinion the facts of the case in hand clearly show that this is not a fit case for levy of penalty u/s 271 (1) (c) of the Act. Levy of penalty u/s 271 (1) (c) of the Act is not justified accordingly the order of the CIT(A) is upheld and appeal filed by the revenue is dismissed.
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