IN THE HIGH COURT OF DELHI AT NEW DELHI 
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  27.08.2004 
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 Present:        Ms Prem Lata Bansal with Mr Ajay Jha for the    Appellant. 
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 +  ITA 470/2004 
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 Admit. 
 The following question of law is required to be determined by this Court:- 
 ''Whether ITAT was correct in law in deleting the penalty imposed by the A.O. under section 271(1) (c) of the Act despite the fact that the amount of Rs.11,02,567/- surrendered by the assessee due to unexplained stock was not disclosed by it in the return 
 of income? 
 2.      The paper books shall be supplied by the learned counsel for the applicant within a period of three months as per the rules. 
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 CHIEF JUSTICE 
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 BADAR DURREZ AHMED, J 
 August 27, 2004 
 sd