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2018 (6) TMI 1714 - KARNATAKA HIGH COURTPenalty under Section 271(1)(C) - Deduction u/s 10B computation - HELD THAT:- Since the Tribunal has reiterated the findings of facts that both the additions made to the income of the Assessee having been set aside following the decision of the High Court in the case of Tata Elxsi Ltd [2011 (8) TMI 782 - KARNATAKA HIGH COURT] as far as issue of Section 10B is concerned and on the issue of excess stock being tax neutral, such cogent and reasonable findings of facts returned by the learned Tribunal and consequentially setting aside the penalty under Section 271[1][c] of the Act, does not give rise to any substantial question of law requiring the consideration by this Court under Section 260-A of the Act. Appeal filed by the Revenue is thus found to be without merit and liable to be dismissed and the same is accordingly dismissed.
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