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1978 (8) TMI 100 - ITAT AMRITSARExtract: .......e assessee s case leads to the conclusion about the assessee s innocence. In view of this, we consider that no penalty can be imposed for either of the two years either under the main provisions of s.18(1)(c) or the Explanation in s. 18(1). Accordingly, we cancel the penalties and allow these appeals. 7. In the result, both the appeals are allowed.
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