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2002 (7) TMI 55 - GUJARAT HIGH COURT"Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that no penalty under section 271(1)(a) could be levied against the registered firm for delay in filing the return when the advance tax paid by the firm exceeded the assessed tax pay able by the firm and the assessment resulted in refund?" we are of the view that the Tribunal was not right in confirming the view in deleting the penalty imposed by the Income-tax Officer under section 271(1)(a) of the Income-tax Act, 1961. We, therefore, answer the question in the negative, i.e., in favour of the Revenue and against the assessee.
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