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2004 (8) TMI 317 - ITAT AHMEDABAD-CExtract: .......e from the trust. In the light of the above discussion, we are of the considered view that concealment penalties are not warranted in respect of s. 271(1)(c) under the IT Act and 18(1)(c) under the WT Act. We accordingly cancel the penalties levied by the AO and sustained by the CIT(A). 6. In the result all the appeals of the assessees are allowed.
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