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2010 (3) TMI 882 - ITAT HYDERABADExtract: .......d the loan in cash. The penalty in this case cannot be levied under section 271D of the Act for receiving the cash from the borrower by the assessee. 7. In view of this, in our opinion, CIT(A) is justified in deleting the penalty levied under section 271D. 8. In the result, the appeals of the revenue in ITA Nos. 8, 9 and 10/Hyd./2010 are dismissed.
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