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1995 (4) TMI 96 - ITAT DELHI-AExtract: .......re clearly of the view that penalty levied is not justified. We, thus, allow the assessee s appeal. 5. Having allowed the assessee s appeal we do not consider it necessary to deal with the alternative ground taken by the assessee that there being no positive income, no penalty could be levied. 6. In the result, appeal is allowed as indicated above.
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