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2004 (10) TMI 546 - AT - Income TaxExtract: .......t find any justification in levying the penalty under section 271B of the Act. In our opinion this is not a fit case of levying the penalty under section 271B of the Act. Accordingly, we set aside the orders of the authorities below and delete the penalty imposed by the Assessing Officer. 5. In the result, the appeal of the assessee stands allowed.
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