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2002 (10) TMI 229 - ITAT AMRITSARExtract: ....... penalty under s. 271D was leviable. In our view, there was a reasonable cause within the meaning of s. 273B of the Act and, therefore, no penalty is leviable under s. 271D of the Act. We accordingly find merit in the appeal of the assessee and delete the penalty levied by the AO and confirmed by the CIT(A). 9. In the result, the appeal is allowed.
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