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Assessee has raised the ground that the Ld. CIT (A) further erred in confirming levy of penalty under section 271(1)(c) when the appellant was assessed and had paid tax under MAT as per provisions of section 115JB of the Act and hence no penalty under section 271(1)(c) could be imposed for additions made under normal provisions.

Shanti Prime Publication Pvt. Ltd.

Sec. 271(1)(c) of Income Tax Act, 1961— Penalty — When the assessee company had been assessed to tax under the deeming provisions of Sec. 115JB , therefore, no penalty u/s 271(1)(c) in respect of additions/disallowances made under the normal provisions of the Act could have been imposed upon the assessee- If an amount of concealment of income on any issue is considered both under the general provisions and provisions of section 115JB or 115JC then such amount shall not be considered in computing tax sought to be evaded under provisions of section 115JB or 115JC. Further, in a case where the provisions of section 115JB or 115JC are not applicable, the computation of tax sought to be evaded under the provisions of section 115JB or 115JC shall be ignored. - FLEMINGO TRAVEL RETAIL LIMITED V/s DEPUTY CIT - [2020] 28 ITCD Online 020 (ITAT-MUMBAI)

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