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2020 (10) TMI 369 - GUJARAT HIGH COURTPenalty u/s 271(1)(c) - unexplained credits - Tribunal reducing the penalty by holding the unexplained credits as turnover of the assessee and accordingly proportionately reducing the income and penalty - HELD THAT:- Tribunal held that once the income is reduced, the penalty would also get reduced proportionately and thereby the Tribunal restricted the penalty. If such is the view of the Tribunal, then, in our opinion, we should not disturb the same. - Decided against revenue.
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