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1977 (6) TMI 59 - ITAT MADRAS-BExtract: .......sions it was held in the case of M.V.N. Nagappa Chettiar and Ors. vs. ITO 34 ITR 583 that for the failure to pay advance tax in accordance with sub-s. (3) of s. 18A of the IT Act, 1922, penalty cannot be levied under sub-s. (9) of that section. In the circumstances, we hold that no penalty can be levied. The appeal is allowed and penalty cancelled.
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