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1990 (7) TMI 141 - AT - Income TaxExtract: .......ted to the assessee by virtue of application of the explanation to section 271(1)(c) had been, in our considered opinion, satisfactorily discharged by the assessee. Under these circumstances, therefore, the penalty imposed is not sustainable. 30. In the result, the order under appeal is set aside, the penalty levied cancelled and the appeal allowed
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