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Dipakumar Ishwarlal Panchal ( 2022)The Chamber’s Journal – November P.80 ( Ahd )( Trib)

S. 271(1)(c) : Penalty – Concealment – Addition based on stamp valuation – Deeming section – Levy of penalty is not valid .[ S. 56(2)(x) ]

Allowing the appeal the Tribunal held that when the addition is made under deeming section and the Revenue has not established that the receipt of money over and above consideration , the levy of penalty is not justified . (ITA .No 490/Ahd /2020 dt. 31-8 -2022  (AY.2006 -07  )