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1998 (9) TMI 104 - ITAT AHMEDABAD
Extract:
.......e of Hindustan Steel Ltd. (supra) was decided by three Judge Bench directly involving reasonableness of levying penalties for venial and technical defaults. 5.4 Taking totality of the facts and circumstances of the case I have no hesitation to hold that penalty should not have been levied under section 271B in this case. 6. The appeals are allowed.