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2005 (5) TMI 235 - AT - Income TaxExtract: .......firmed by the Tribunal on account of fall in GP, it cannot be said that the assessee has concealed the particulars of income or furnished inaccurate particulars. Under these circumstances, assessee is not required to be visited with the penalty under s. 271(1)(c). 5. In the result, appeal of the assessee is allowed and the penalty order is quashed.
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