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1983 (10) TMI 75 - ITAT AMRITSARExtract: ....... had led evidence, which it could furnish but that was found to be unacceptable and the loans were treated to be not satisfactorily explained. In such circumstances, no penalty for concealment of income will be attracted. 6. In the result, we delete the penalty of Rs. 1,82,221 sustained by the Commissioner (Appeals) and allow the assessee s appeal.
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