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2005 (4) TMI 243 - AT - Income TaxExtract: .......its turnover or the receipts of the business exceeded Rs. 40 lakhs. In these circumstances, in my opinion, it is not a fit case for levying the penalty and the assessee was prevented by sufficient cause and the benefit of s. 273B is given to the assessee. The penalty is, accordingly, deleted. 4. In the result, the appeal of the assessee is allowed.
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