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2005 (3) TMI 700 - AT - Income TaxExtract: ....... bona fide belief that it has incurred loss, it was not under obligation to pay advance tax as per provision of section 208 of the Act. Since the assessee is not liable to pay advance tax under section 208 interest under section 234B is not leviable. We accordingly delete the interest charged under section 234B. In the result the appeal is allowed.
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