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2000 (4) TMI 146 - ITAT AMRITSARExtract: ....... s. 139(1) or in response to notice under s. 142(1)(i) of the Act, but files a belated return together with the audit report, no penalty under s. 271B can be levied. 7. In view of the above, we do not see any justification for imposing the penalty under s. 271B of the Act and accordingly, we cancel the same. 8. In the result, the appeal is allowed.
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