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Chandrasekhar (C)     26 December 2010


Sirs/Madam, My query is whether the CIT can initiate and levy concelament penalty u/s.271(1)(c) of the Incometax Act during the course of revisionary proceedings u/s.263 of the Act.  Some say that the AO, CIT(Appeals) and CIT are empowered to levy such penalty u/s.271(1)(c).  Whether AO is competent or CIT is equally empowered to levy such penalty during revisionary proceedings.  Please clarify with supporting case laws. Thank u.


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