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1997 (11) TMI 78 - HC - Income TaxExtract: ....... On the facts and circumstances of the case, we have no hesitation in holding that the Tribunal was right in cancelling the penalties on the ground that the assessee had discharged its burden under the Expln. to s. 271(1)(c). The question referred to this Court is answered in the affirmative, i.e., in favour of the assessee and against the Revenue.
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