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2021 (4) TMI 590 - AT - Income TaxPenalty u/s 271(1)(c) - undisclosed interest income on the undisclosed deposits in HSBC Bank, Geneva - as per revenue assessee has deliberately concealed interest income in HSBC, Geneva - CIT-A deleted the addition - HELD THAT:- In assessee’s own case for Assessment Year 2014-15 . [2020 (10) TMI 1238 - ITAT DELHI] wherein an identical addition on account of interest has been deleted on the ground that the ITAT had earlier deleted the addition on account of investment in the bank accounts itself. Since, we have upheld the deletion of the quantum addition by the Ld. CIT(A) in the foregoing paragraphs, there is again no reason to deviate from the findings of the Ld. CIT(A) in deleting the penalty imposed against the quantum addition. We uphold the deletion of penalty by the Ld. CIT(A). - Decided against revenue.
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