2011 (12) TMI 734

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....RDER 1. The present appeal under Section 260A of the Income Tax Act, 1961 (for short, the Act) impugns order dated 12th August, 2011 passed by the Income Tax Appellate Tribunal (Tribunal, for short) upholding the levy of penalty by the Assessing Officer and reversing the order passed by the first Appellate Authority. 2. It is not disputed that that the appellant-assessee had claimed depreciatio....