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2011 (3) TMI 1746 - AT - Income TaxExtract: ....... assessee that the claim had been made under bonafide belief has to be accepted and it will not be appropriate to levy penalty under section 271(1)(c) in this case. Accordingly we set aside the order of CIT(A) and delete the penalty levied. 7. In the result the appeal of the assessee is allowed. 8. Order was pronounced in the open court 18.03.2011.
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