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1988 (11) TMI 148 - ITAT JAIPURExtract: .......he penalty under s. 271(3)(b), we are unable to impose the penalty at our level. Therefore, in our view, when the assessee had a reasonable cause having not filed the return on the bona fide belief that the assessee has no taxable income, the penalties so levied and upheld by the AAC are hereby cancelled. 6. The appeals of the assessee are allowed.
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