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2004 (4) TMI 281 - ITAT HYDERABAD-BExtract: .......nts. In such circumstances, it would be a travesty of truth and justice to hold that the assessee knew or ought to have known the correct law and comply therewith, even though, in fact, he was not aware of the provisions. Under these circumstances, we cancel the penalties levied by the Assessing Officer and allow the appeals filed by the assessees.
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