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2011 (8) TMI 1268 - AT - Income TaxExtract: ....... that there is a bonafide mistake in claiming higher depreciation, respectfully following the principles established as stated above, we have no hesitation in cancelling penalty levied under section 271(1)(c). The grounds raised by the assessee are allowed. 9. In the result, appeal is allowed. Order pronounced in the open court on 24th August 2011.
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