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The penalties have levied by the AO on the addition made on account of leave encashment paid to the employees and addition made u/s.68 of the Act, which we have deleted the same while deciding the quantum appeal of the assessee.

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Section 36, 40, 43B, 68, 271 of Income tax Act, 1961—Penalty - The AO levied penalties on the addition made on account of leave encashment paid to the employees and addition made u/s.68 of the Act, which the Tribunal had already deleted the same while deciding the quantum appeal of the assessee. When the quantum addition upon which the AO imposed the penalty has already been deleted by the Tribunal in appeal, therefore, the levy of penalty on the above additions has no legs to stand and accordingly, deleted the same. Appeal Allowed.—BRIG. NARAYAN NAYAK vs. Deputy CIT.[2020] 26 ITCD Online 004 (ITAT-CUTTACK)