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1997 (4) TMI 100 - ITAT AHMEDABAD-AExtract: ....... and no interest or penalty for advance tax or late filing should be levied as held by the Supreme Court in the case of Modi Industries Ltd. and Ors. vs. CIT (1995) 128 CTR (SC) 361 (1995) 216 ITR 759 (SC). Accordingly we decline to interfere with the findings of the CIT(A) and dismiss this appeal. 7. In the result, both the appeals, are dismissed.
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