2018 (3) TMI 2057

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....ent : None ORDER The imposition of penalty under Section 271(1)(c) of the Income Tax Act, 1961 [hereafter "the 1961 Act"] by the Assessing Officer (AO) in relation to the assessee, resulting in the addition of Rs. 83,88,635/-, is a subject matter of present appeal by the Revenue. It is urged that the Tribunal was not justified in directing deletion of penalty as it ignored the mandate of Explana....