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In the result, the appeals filed by the Revenue are dismissed
Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)
80,00,000/-. However the Ld. CIT(A) confirmed the levy of penalty on the balance disputed income of Rs. 4,08,097/-. Thus, we do not find any infirmity in the order passed by the Ld. CIT(A), who partly deleted the penalty levied u/s. 271(1)(c) of the Act. Thus the grounds raised by the Revenue