2021 (11) TMI 1164

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..... d by the Tribunal and upheld by the High Court - HELD THAT:- In view of the position above, the question of penalty would not survive. As decided by Tribunal this issue is finally settled and decided in favour of the assessee by the Hon ble High Court in assessee s own case. Accordingly, in view of the fact that the addition itself was deleted by the Tribunal and then by the Hon ble Jurisdictiona .....

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..... that the penalty was deleted on the ground that quantum additions were deleted by the Tribunal and upheld by the High Court. In that view of the position, the question of penalty would not survive. In particular, we may notice the following portion of the judgment of the Tribunal:- Thus it is clear that this issue is finally settled and decided in favour of the assessee by the Hon ble Hig .....

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