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1992 (2) TMI 129 - ITAT CALCUTTAExtract: .......lf of the assessee and hold that no penalty is exigible on the facts of the present case. Accordingly, I cancel the penalties levied by the assessing officer under section 271(1)(c) of the Act in both the years. The amounts of penalty, if already collected from the assessee. shall be refunded to her. 10. In the result, both the appeals are allowed.
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