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2011 (12) TMI 719 - ITAT COCHINExtract: .......n this view of the matter, this Tribunal is of the opinion that this is not a fit case for levy of penalty. Therefore, we hereby delete the penalty levied u/s 271B of the Act at ₹ 1 lakh for the assessment year 2004-05. 5. In the result, the appeal filed by the assessee stands allowed. Order pronounced in the open court on 30th December, 2011
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