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1973 (9) TMI 31 - HC - Income TaxExtract: .......ts of this case. We would accordingly answer the question in the negative by saying that the Tribunal was not justified in law in cancelling the penalty without resorting to the Explanation. In the result, the reference is allowed but in the circumstances, there will be no order as to costs. S. K. RAY J.--I agree. Question answered in the negative.
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