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2006 (8) TMI 271 - ITAT JODHPURExtract: ....... the eyes of the law. On merits also when the assessee has not surrendered any amount for the year under consideration it is difficult to come to the conclusion that the assessee has consciously concealed the taxable income. Consequently, the penalty levied under s. 271(1)(c) is hereby cancelled/deleted. 8. In the result, the appeal stands allowed.
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