2007 (3) TMI 227

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....ied in deleting penalty levied under section 271(1)(c) of the Income-tax Act, 1961, by holding that the additions made in the assessments were under the amnesty scheme issued under the Finance Act, 1985? As per the circular issued under the amnesty scheme, the benefit is not available where the premises of the assessee were searched by the tax authorities. In the present case, from the impugned....