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1997 (4) TMI 123 - ITAT JAIPURExtract: .......ing to impose the penalty, when there is a technical or venial breach of the provisions of the Act or where the breach flows from a bona fide belief that the offender is not liable to act in the manner prescribed by the statute . In view of above facts and circumstances, we cancel the penalty under appeal and the assessee rsquo s appeal is allowed.
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