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2011 (1) TMI 1465 - AT - Income TaxExtract: .......ciation was already districted to 50 . The circumstances do indicate that the claim is a bonafide claim, rejection of which does not warrant any penalty under section 271(1)(c). Accordingly we cancel the penalty and allow the ground raised by the assessee. 8. In the result, appeal is allowed. Order pronounced in the open court on 19th January 2011.
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