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of <h1>Delhi HC Affirms Tribunal Decision on Penalty for Income Tax Act Violations</h1> The Delhi HC upheld the Tribunal's decision on the penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 for additions to the Profit and ... - The Delhi High Court considered the issue of penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961 for additions to Profit and Loss Account. The Tribunal's decision on the penalty was questioned as potentially perverse. The court reserved its order after hearing arguments on the matter.
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