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2002 (1) TMI 957 - AT - Income TaxExtract: .......ax Act. Since the assessee has surrendered the additional income in order to buy peace and avoid unnecessary litigation. I think in view of the facts and circumstances of the case no penalty should have been levied under section 271(1)(c) of the Income-tax Act the ld. CIT(A) has rightly cancelled the same. 5. In the result, the appeal is dismissed.
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