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ITAT's interpretation of "abatement" in block assessment may halt penalty proceedings, potentially benefiting the assessee unfairly.

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....Block Assessment - Interpretation of Word 'Abatement' - If the interpretation given by the ITAT is to be accepted, the entire proceedings of penalty will also abate giving an unreasonable advantage to the assessee, insptie of adverse findings inviting penalty..... - HC....

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ITAT's interpretation of "abatement" in block assessment may halt penalty proceedings, potentially benefiting the assessee unfairly.