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2020 (8) TMI 304 - ITAT RAJKOTPenalty u/s 271(1)(c) - CIT-A deleted penalty - HELD THAT:- Penalty has been deleted on the basis of the ratio laid down in the matter of Commissioner of Income Tax vs. Reliance Petroproducts Pvt. Ltd. [2010 (3) TMI 80 - SUPREME COURT] whereby and whereunder imposition of penalty on the sole reason of wrong claim or excess claim for deduction which was not found sustainable by the authority has been nullified. It also appears and as submitted by the Ld. Counsel appearing for the assessee that in assessee’s own case, the Jurisdictional High Court [2011 (10) TMI 745 - GUJARAT HIGH COURT] has been pleased to decide the identical issue in favour of the assessee by and under its judgment and order dated 18.10.2011. The photo copy of the said order has also been annexed to the Paper Book filed before us by the assessee which we have already perused and considered. We find no discrepancy in the order passed by the Ld. CIT so as to warrant interference. Hence, the appeal preferred by Revenue is found to be devoid of any merit and thus dismissed. - Appeal filed by the Revenue is dismissed.
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