2003 (7) TMI 14

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..... - When the entire addition has been deleted in the quantum appeal, no reason survives for sustaining the penalty or interfering in the order of the Tribunal. We answer the question in the affirmative, i.e., in favour of the assessee - - - - - Dated:- 22-7-2003 - Judge(s) : Y. R. MEENA., SHASHI KANT SHARMA. JUDGMENT On an application under section 256(2), the Tribunal was directed to refer .....

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..... rtunities were given and the reference was adjourned, but he has failed to controvert the facts submitted by learned counsel for the assessee. Considering his submissions, when the entire addition has been deleted in the quantum appeal, no reason survives for sustaining the penalty or interfering in the order of the Tribunal. In the result, we answer the question in the affirmative, i.e., in f .....

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