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2012 (7) TMI 428 - ITAT, AHMEDABADPenalty levied u/s 271(1)(c) - Discrepancies were noticed in the accounts and that the assessee has not at all maintained stock register - books of account of the assessee were, therefore, rejected u/s.145 of the Act and made addition on the basis of estimating profit – Held that:- When the matter has been restored back to the A.O. and still pending as claimed by the assessee and one of the addition has been deleted by the co-ordinate Bench - penalty u/s 271(1)(C) is not justifiable and accordingly is deleted - revenue’s appeal is dismissed
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