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1996 (2) TMI 562 - ITAT MUMBAI
Extract:
.......ion. Even if there is any ignorance of law, which resulted in infraction of law, the default is in the nature of technical or venial infraction of law which does not prejudice the interests of the Revenue, as no tax avoidance or tax evasion is involved in this case. I hold accordingly and cancel the penalty. 7. In the result, the appeal is allowed.