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1997 (5) TMI 67 - AT - Income TaxExtract: ....... 271D. We also feel that the assessee could be under genuine impression that advancing of loan by a partner to firm is not a transfer from one person to the another and hence, there is no violation of provisions of section 269SS. In view of the above, we cancel the penalty imposed and allow the assessee s appeal. 3. The assessee s appeal is allowed
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