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1979 (5) TMI 65 - ITAT MADRAS-AExtract: .......st income on the due basis was the consequence of a Bona fide belief that it was sufficient if interest was returned when actually received. In our view, the provisions of s. 271(1)(c), therefore, are not attracted on the facts of this case. We, therefore, uphold the order of the AAC cancelling the penalties under appeal. The appeals are dismissed.
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