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1994 (4) TMI 92 - AT - Income TaxExtract: .......view in favour of the assessee on this point and hold that no penalty under section 271(1)(c) is leviable in the case of the assessee because after giving effect to the order of the Tribunal there is a loss of Rs. 46,912. We accordingly uphold the view of the CIT(A) on this technical point. 11. In the result the appeal is allowed in part pro tanto.
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