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2011 (2) TMI 1288 - ITAT INDOREExtract: .......it case for levy of penalty under section 271(1)(c) of the Act in respect of loans received by the assessee company from Rishmon Liquors Private Limited which was brought to tax net by invoking the deeming provisions of section 2(22)(e) of the Act. In the result, the appeal of the assessee is allowed. Finally, the appeal of the assessee is allowed.
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