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2009 (2) TMI 45 - HC - Income TaxFailure to get account audited as required u/s 44AB - penalties imposed u/s 271 B – assessee (co-operative society) pleaded that it was under the bona fide belief that it was not required to get the audit report submitted, as the income of the assessee unit was exempted u/s 80 P - no any sufficient reason to interfere with the satisfaction recorded by the tribunal as to the finding of fact that the assessee had no intention to cause any loss to Revenue and as such, the penalty was not imposable
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