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2008 (2) TMI 534 - ITAT AMRITSAR
Extract:
.......nd the explanation of the assessee to be false or not bona fide. Thus, we are of the considered opinion that even on merits penalty under s. 271(1)(c) is not leviable in this case. This ground of appeal is allowed. 8. In the result, the appeal filed by the assessee is allowed. However, we do not consider necessary to award any cost to the assessee.