Penalty u/s 271(1)(c) Nullified: CIT(A) Revises Miscellaneous Expense Disallowance from 50% to 10.

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....Penalty u/s 271(1)(c) - Adhoc disallowance of 50% out of miscellaneous expenses was made by the A.O. on estimated basis - said estimate was revised by the CIT(A) to 10% - No penalty - AT....