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No Penalty u/s 271(1)(c) as Gross Profit Addition Was Estimation, Not Due to False Records or Transactions.

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....Penalty u/s 271(1)(c) - Though the addition is confirmed by the CIT(A), but does not show that the assessee has not recorded any transaction in his books of account or any transaction recorded by him is false - Addition on account of gross profit was purely on estimation basis - No penalty....

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