HC set-aside penalty order as assessee furnished plausible explanation against additions made by AO

INCOME TAX: Where authorities below having made addition to assessee's income by invoking provisions of sections 69A and 41(1), also passed penalty order under section 271(1)(c), in view of fact that assessee had furnished a plausible explanation against aforesaid additions which required an investigation and inquiry, impugned penalty order passed in mechanical manner was to be set aside

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