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1977 (7) TMI 1 - SCH - Income TaxTribunal has set aside the penalty of ₹ 7,500 levied on the assessee - Tribunal appears to have overlooked the amendment made by Act 5 of 1964 to s. 271 of the I.T. Act, 1961. The word " deliberately ", which occurred in the unamended section, was omitted by the amendment and an Explanation was added to that section which was previously not there - Tribunal should have considered the amendment. However, reference was refused taking overall view of the case
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