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2020 (6) TMI 364 - AT - Income TaxLevy of penalty - HELD THAT:- Since the very basis for levy of penalty i.e. issue of quantum has been set aside to the file of the learned AO, we are of the considered opinion that penalty based on such non-existent ground does not survive. In the fitness of things, we set aside the impugned order and remand the issue of penalty to the file of the AO to take a view in consonance with the view to be taken on the aspect of quantum. Appeal of the assessee is allowed, for statistical purposes.
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